Blockchain.com Doesn’t Sell Subsidiary Products, and Coinbase Isn’t Even Aware of It
Key Points:Blockchain.com is not selling any subsidiaries and has not spoken to Coinbase about potential transactions.
Blockchain.com has sold its illiquid holdings in order to realize gains and increase liquidity, so it can seize opportunities.
Blockchain.com was among several companies that allegedly had an interest in buying derivatives exchanges or clearinghouse LedgerX.
Blockchain.com is not selling any subsidiaries and has not spoken to Coinbase about potential transactions.Following the failure of hedge fund Three Arrows Capital last year, which left the company with a $270 million hole, cryptocurrency news outlet earlier said that Blockchain.com “has been trying to sell off assets in a scramble for funds.” Executives “shopped pieces of its business, including to Coinbase,” according to calls made over the past two months, according to various sources quoted by Decrypt, who declined to be named.Coinbase’s commitment to capital markets reform can be seen in a couple of recent announcements. Coinbase joined Square, Fidelity, and other companies to create the Crypto Council for Innovation. This group will lobby policymakers for support for the growing crypto asset market. A couple of days later, Coinbase announced that it was joining the DeFi Alliance, an organization that supports decentralized finance (DeFi) startups with guidance around regulations and market operations.According to the source, Blockchain.com has sold illiquid holdings to realize gains and increase liquidity so that it can seize opportunities.According to a December article from Bloomberg News, Blockchain.com was one of several companies that purportedly had interest in buying derivatives exchanges and clearinghouse LedgerX. BC.com raised an undisclosed amount of additional funding in October through a round led by Kingsway Capital, a UK-based investment firm. We encourage you to do your research before investing.Join us to keep track of news: https://linktr.ee/coincuWebsite: coincu.comAnnieCoincu NewsTags: Blockchainblockchain.comCoinbase