06-13-2022, 08:36 AM
Coinbase Decides against Full Acquisition of Singapore-based Zipmex
<p>Coinbase, an American
cryptocurrency exchange, has opted to place strategic investment in
Singapore-headquartered cryptocurrency exchange, Zipmex, instead of full
acquisition, The Block reports.</p>
The investment will be
part of the Series B+ fundraising round that the Southeast Asian exchange is
currently working on.</p>
</p>
The round, through which
it reportedly has plans to raise $40 million, could value the exchange at $400
million.</p>
</p>
<p>Additionally, Coinbase has previously
discussed full acquisition with Zipmex. </p>
</p>
<p>Zipmex, which also has a strong footing in Thailand, previously raised $52 million from its Series B funding
round. </p>
</p>
<p>Moreover, the exchange raised $41
million in September 2021 and $11 million six months later. </p><p></p><p></p>
<p>Some of its investors in
the rounds included B Capital, V Ventures, MindWorks Capital and Master Ad,
among others. </p>
</p>
Recent Coinbase Moves
</p>
<p>Recently, Coinbase committed $1
million for digital public
goods in partnership with Gitcoin, a community of builders, creators and
protocols at the center of open web ecosystems.</p>
</p>
<p>In fact, digital public goods are
open-source software that support open-source protocols.</p>
</p>
Coinbase said the
monetary support is “one of the largest single donations to the public goods
treasury in Gitcoin history.”</p>
</p>
Coinbase last month also launched the Coinbase Institute, a global crypto-native
think tank.</p>
</p>
The exchange selected
Hermine Wong as the Director of the Institute. Wong is a former US government
official who worked with the Executive Office of the President’s Office of
Information and Regulatory Affairs (OIRA).</p>
</p>
<p>Meanwhile, a
Bitcoin address recently
transferred 2,457 BTC from Coinbase
as selling pressure pushed the price of the crypto asset to its lowest level in
more than 12 months. </p>
</p>
<p>On-chain analytics
platform, Whale Alert, said the BTCs were moved to an unknown
wallet on 20 May at 16:49 UTC. </p>
</p>
<p>Furthermore, Whale Alert disclosed that the coins were worth more than $70 million. Thus, the BTC balance on the
cryptocurrency exchange took a major hit. </p>
<p></p>
This article was written by Solomon Oladipupo at www.financemagnates.com.
https://www.financemagnates.com/cryptocu...ed-zipmex/
<p>Coinbase, an American
cryptocurrency exchange, has opted to place strategic investment in
Singapore-headquartered cryptocurrency exchange, Zipmex, instead of full
acquisition, The Block reports.</p>
The investment will be
part of the Series B+ fundraising round that the Southeast Asian exchange is
currently working on.</p>
</p>
The round, through which
it reportedly has plans to raise $40 million, could value the exchange at $400
million.</p>
</p>
<p>Additionally, Coinbase has previously
discussed full acquisition with Zipmex. </p>
</p>
<p>Zipmex, which also has a strong footing in Thailand, previously raised $52 million from its Series B funding
round. </p>
</p>
<p>Moreover, the exchange raised $41
million in September 2021 and $11 million six months later. </p><p></p><p></p>
<p>Some of its investors in
the rounds included B Capital, V Ventures, MindWorks Capital and Master Ad,
among others. </p>
</p>
Recent Coinbase Moves
</p>
<p>Recently, Coinbase committed $1
million for digital public
goods in partnership with Gitcoin, a community of builders, creators and
protocols at the center of open web ecosystems.</p>
</p>
<p>In fact, digital public goods are
open-source software that support open-source protocols.</p>
</p>
Coinbase said the
monetary support is “one of the largest single donations to the public goods
treasury in Gitcoin history.”</p>
</p>
Coinbase last month also launched the Coinbase Institute, a global crypto-native
think tank.</p>
</p>
The exchange selected
Hermine Wong as the Director of the Institute. Wong is a former US government
official who worked with the Executive Office of the President’s Office of
Information and Regulatory Affairs (OIRA).</p>
</p>
<p>Meanwhile, a
Bitcoin address recently
transferred 2,457 BTC from Coinbase
as selling pressure pushed the price of the crypto asset to its lowest level in
more than 12 months. </p>
</p>
<p>On-chain analytics
platform, Whale Alert, said the BTCs were moved to an unknown
wallet on 20 May at 16:49 UTC. </p>
</p>
<p>Furthermore, Whale Alert disclosed that the coins were worth more than $70 million. Thus, the BTC balance on the
cryptocurrency exchange took a major hit. </p>
<p></p>
This article was written by Solomon Oladipupo at www.financemagnates.com.
https://www.financemagnates.com/cryptocu...ed-zipmex/