Coinbase shares jumped over 2% in premarket trading

Tiger Newspress2022-01-13

Coinbase shares jumped over 2% in premarket trading after announcing the acquisition of CFTC regulated derivatives exchange.

Coinbase made the announcement in a company blog post on Jan. 13 which revealed that the exchange is acquiring FairX, a Commodity Futures Trading Commission (CFTC) regulated derivatives exchange.

The company stated that the move will pave the way for it to offer crypto derivatives to American customers.

“The acquisition is a key stepping stone on Coinbase’s path to offer crypto derivatives to retail and institutional customers in the US.”

Derivatives are financial contracts whose value is linked to the value of an underlying asset, in this case, Bitcoin or Ethereum. They could include futures, options, swaps, or perpetual contracts for crypto assets.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

  • TaiWoeiHaur
    2022-01-14
    TaiWoeiHaur
    Good morning 
  • MNCoffee
    2022-01-13
    MNCoffee
    Nice
  • Supertooth
    2022-01-13
    Supertooth
    To the moon n beyond 
  • Troytan
    2022-01-13
    Troytan
    Coinbase 🚀
  • IcyAlchemist
    2022-01-13
    IcyAlchemist
    Like and comment 
  • xremy
    2022-01-13
    xremy
    Coin prices will goes up.. 
Leave a comment
18