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.
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