There is a lot of action in the crypto market this time and this is good probably because the market is in bear sentiment. This bear market is slightly different this time the prices are low but the adoption and innovations are high in the market this time. bitcoin price is in the range of 25K US dollars and it may drop further which can go up to 20K if there is more selling pressure in the market. Exchanges are trying to expand their presence globally and this is happening when they are also struggling in some countries including us for the regulations. There are many exchanges that are from the US and they are trying to expand in other countries these exchanges are mostly coinbase, Gemini and OKX etc.
SEC has been creating a lot of trouble for these exchanges in the United States but these exchanges are still trying their best to deal with the situation however still they are trying to expand in other countries. Gemini Exchange has already announced that they will be expanding their business in the Asia Pacific region and they will be making India their hub for all these operations. Coinbase has also been struggling here so they are also trying to expand its business portfolio. They had their business set up in India but because of some payment regulation issues, they were asked to stop the service. They are not providing any trading services in India as of now and the communication has already been sent to the users to withdraw their funds before the 25th of September. They have mentioned that India is still in their bucket and they will keep on trying to bring the best for their users but for now, they recommended the users to withdraw their funds before 25th September however coin base wallets will be functional.
Coinbase to Buy FTX Europe?
This is not confirmed news but something is breathing here and probably the coinbase exchange is trying to buy this FTX Europe entity so that they can have their presence there. If this happens then probably it is going to be good for the users of FTX and also for the coinbase since the exchange will get another country added to its business portfolio and they will be able to offer services over there. FTX users have been struggling globally and now since the ftx has got the go-ahead from the government to sell off the assets and settle the money for these users there is no clarity on when this is going to happen and how the exchange will settle the amount. It is also not clear how much the payable amount for FTX exchange is and whether will it be enough for them to settle the entire amount after selling their assets which are worth seven billion U.S. dollars.
Coinbase Inc. (COIN), the U.S. crypto exchange that’s seeking to expand globally amid the regulatory crackdown in its home country, has recently considered buying FTX Europe. This is part of Coinbase’s desire to expand its derivatives business, according to the article, which added that acquisition talks never reached a “late stage.”
This discussion of buying ftx Europe entity is still not finalised and as of now just a discussion but maybe in the coming days or weeks we can hear an update about this acquisition. it often happens in the market when any big company tries to acquire a smaller one to expand its business. If this acquisition can help the FTX users then for sure it is great else it is good for the coin base since the exchange will be able to provide its services in the Europe region.
CoinBase is doing good and I like the way they work because they have not given up on us despite a lot of issues created by SEC over there. While they are struggling in the US but still their desire to expand their global presence is still ongoing which is good for the Crypto space. Even though they had a tough time in India because of the issues created by NPCI which is the payment organisation in the country.
The exchange (Coinbase) has not stopped its complete operations in India and maybe in future, it will start back when things are better in the country. These days Indian government is talking about cryptocurrencies and blockchain in an open forum which can be a good sign that they are considering the regulation. It is difficult to predict how is it going to be because, after the tax implementation and how they did it, we cannot expect anything positive from them unless it is shared in detail.
Thank you
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Good development. I also think it's good for Coinbase to expand since they're restricted in the US. Acquiring FTX Europe could give them a foothold in Europe.
yes it can be but as of now its not done yet
coinbase is huge O.O i saw them sponsor the recent speed chess tournament. they taking over US market already and now making their way to europe and maybe world domination wow
It's always refreshing to read your insightful updates on the crypto market, especially during these times of market volatility. Your detailed analysis of Coinbase's expansion efforts is both informative and inspiring.
Your commitment to keeping us informed about these developments is invaluable and sounds so promising.
thanks for encouraging comment bro
You're most welcome.
It's always refreshing to read your insightful updates on the crypto market, especially during these times of down market.
Your commitment to keeping us informed about these developments sounds so promising and should be helpful as well.
SBF is fall guy for sure and if coinbase acquire its one of the entity then it can be good