The CEO of Coinbase, Brian Armstrong, says that his company will continue to seek fusion and acquisition opportunities after acquiring the demribit cryptographic derivatives platform.
“We are always looking at the opportunities for mergers and acquisitions,” Armstrong said at Bloomberg Television on May 14.
He added that the company has a great balance that can be used.
The firm revealed in its latest income report that its balance has been strengthened, ending the first quarter with $ 9.9 billion in US dollars.
“Part of the benefit of being a public company is that it has a liquid currency to do that,” he said, adding: “We are looking for acquisition opportunities; no I do not balance me in each launch. We want it to be the right opportunity.”
On May 8, the firm announced that it agreed to acquire the negotiation of encryption options to a transaction worth $ 2.9 billion consisted of or $ 700 million in cash and 11 million Coinbase shares
The acquisition, the largest in the cryptographic industry so far, will allow Coinbase to expand in the profitable market for cryptographic derivatives and continue to climb the global growth of the platform.
Armstrong told The Outlet that he is particularly looking at international opportunities, “Companies who think similarly” and that they can accelerate the development and growth of coinbase products.
Related: The purchase of Coinbase Deribit shows a growing derivative market
However, the Crypto executive said he had nothing to announce when asked about a possible acquisition of the Stablecoin issuer and Coinbase partner, Circle, who has presented himself to become public.
At the end of April, the Fintech firm of the United States.
Coinbase stock orgurs
Coinbase will become the first cryptographic firm to join the coveted S&P 500 index on May 19.
The S&P 500 is a stock market index that tracks the yield of 500 of the companies that are listed in the largest in the US.
The Coinbase shares ended the day 2.5% to reach $ 263 in the negotiation after the Boys, according to Google Finance. The company’s shares (COIN) have triggered more than 30% since the beginning of May, and the two large ads, and almost 50% during the last month.
Magazine: Metric Signs $ 250k Bitcoin is ‘Best Case’, Sun, Profit Expulsion: Commercial Secrets
