Coinbase CEO looking at more acquisitions after $2.9B Deribit buy - adtechsolutions

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Coinbase CEO looking at more acquisitions after $2.9B Deribit buy


Coinbase CEO Brian Armstrong says his company will continue to look for merger and acquisitions after obtaining the Kryptorate Platform Debit.

“We are constantly looking at M&A,” said Armstrong on Bloomberg 14.

He added that the company has a great balance sheet that can be used.

The company revealed in its latest Revenue report that his balance sheet was strengthened and ended the first quarter with USD 9.9 billion at US sources.

“The advantage that you are a public company is that you have a liquid currency for it,” he said, adding, “We look at the opportunities for the acquisition; it does not mean that we are swinging on every pitch. We want it to be the right opportunity.”

On May 8. The company announced this he agreed to obtain Platform for trading in Cryptomy Debit in a $ 2.9 billion transaction that consisted of $ 700 million in cash and 11 million coinbase shares

The acquisition, the largest in the crypt, will allow Coinbase to expand to the Krypto derivatives’ profit market and continue to scalance the global platform growth.

Armstrong told Outlet that he was looking mainly at international opportunities, “companies that consider similar” and can speed up the development and growth of Coinbase products.

Related: Coinbase’s Deribit Buy shows a growing derivative market

However, the Krypto manager said he asked the potential acquisition of the emitter and partner of Coinbase, the Circle, who has, has nothing to announce Filed with publication.

At the end of April, the US FINTECH Ripple offered up to $ 5 billion in an effort to get an issuer of stablecoin but the offer was rejected, reported Bloomberg.

Skill overvoltage of coinbase

Coinbase will be become The first crypto company that joined the sought -after index S&P 500 May 19.

The S&P 500 is an index of the stock market that monitors the performance of the 500 largest publicly traded companies in the US and potentially opens its shares to a wider investor base and exhibits passive funds that follow the benchmark.

Shares of Coinbase ended the day by 2.5%to reach $ 263 in a clock trading, according to to Google Finance. Since the beginning of May, Stock (Coin) has risen sharply by more than 30% and two large announcements and nearly 50% in the last month.

Coinbase shares 1 month. Source: Google Finance

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