Coinbase Acquires FairX to Enter Into Crypto Derivatives
<p><a href='https://financialmodelingprep.com/financial-summary/COIN'>Coinbase Global, Inc. (NASDAQ:COIN) </a>made an announcement on Wednesday, according to which it is acquiring FairX, a CFTC- regulated derivatives exchange, with a transaction expected to close in Q1/22.</p>
<p>According to RBC Capital analysts, the company has a strong balance sheet with $6.4 billion in cash to make acquisitions for diversification, and derivatives in an area that is a logical extension to its business model and has a large addressable market. </p>
<p>The company plans to offer its derivatives products through FairX’s existing partner ecosystem such as TD Ameritrade, E*Trade and Virtu and over time leverage FairX’s infrastructure to offer crypto derivatives to all its US customers.</p>

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