Mapping out Coinbase’s acquisitions and investments | Blockchain is eyeing a stablecoin partnership it says could ‘shift the market’
|Jan 21||Public post|
“For us [Blockchain], stablecoins give us the power of giving everyone a US dollar checking account. If you think about that, it’s kind of crazy. There’s no challenger bank with 30 million bank accounts. At the same time as we do that, we’ll be doing it in a way that allows them to still control their funds, to still be financially sovereign individuals.” — Peter Smith, CEO Blockchain
The Big Block
Coinbase, one of the largest cryptocurrency exchanges in the U.S., has stood out among its competitors as one of the most active in mergers and acquisition.
The firm, which is valued at $8 billion, has had a lot of cash on hand to snap up smaller firms across the nascent crypto world, including most notably Earn, a firm that provides a platform for folks to earn crypto by answering emails. It was reported that Coinbase acquired Earn for a figure above $100M, which would be Coinbase’s largest deal out of the 13 in total. The exchange operator also acquired Paradex, the decentralized exchange, and Keystone, a broker dealer.
The Block has also learned of three unannounced small acquisitions:
Seneca Systems: a platform to improve workflow for governments.
CryptoFin, an ethereum DAO that pivoted to become a basket of crypto investments.
Bumpers, a music application.
Behind Coinbase’s acquisition activity is Emilie Choi, previously the top dealmaker at LinkedIn, who in an interview with Business Insider described the firm’s strategy as “business in the front, party in the back.”
Read More on The Block (3 Minutes)
Around The Block
Blockchain is eyeing a stablecoin partnership it says could ‘shift the market’
Blockchain, the largest cryptocurrency wallet provider, is looking to partner with one stablecoin by the end of 2019, CEO Peter Smith told The Block. The company has its sights on becoming one the biggest names in the crypto market and says it has “an obsession” with pegged cryptocurrencies. — More
A darknet vendor is allegedly selling images and data associated with crypto exchange identity verification processes
A user going by the name of “ExploitDOT” is allegedly selling 100,000 personal documents that were used to comply with the know-your-customer (KYC) regulations on cryptocurrency exchanges, as first reported by CCN. He posted the sale on July 17, 2018 on a sub-community (DNMAds) of Dread, which is a hidden Reddit-like community that operates on darknets such as Tor and “provides a platform for open community discussion without as much censorship and limitations.” — More
The Court denies the dismissal of the Winklevii lawsuit — More
Huobi aims for US market following partner rebrand — More
Beam’s blockchain stopped temporarily due to an incorrect UTXO commitment — More
Saudi-Emirati Coordination executive committee to launch pilot cryptocurrency — More
A yen-pegged stablecoin is available for tests on Digital Garage’s SettleNet platform — More
Haven Protocol’s only developer appears to have abandoned the project — More
QuadrigaCX delays fund withdrawals by another two weeks — More
Millions of Chinese tourists are driving mobile payment adoption — More
The Block wants to understand who our readers are. Please take a few minutes to respond to our short survey. Your participation will give us a better understanding of our readers and what interests them! Please note that the survey results will be anonymized and aggregated. Please take the survey here.