a month ago 1 min read

Coinbase Isn't Aware that Blockchain.com Isn't Selling Subsidiary


Blockchain.com has not discussed prospective deals with Coinbase and is not selling any subsidiaries.

Blockchain.com "has been trying to sell off assets in a scramble for funds" since the collapse of hedge fund Three Arrows Capital last year. Executives "shopped pieces of its business, including to Coinbase," according to calls made over the past two months.

Recent statements by Coinbase demonstrate its dedication to financial markets reform. The Crypto Council for Innovation, which will urge lawmakers to assist the expanding crypto asset business, was founded earlier this month as a result of Coinbase's collaboration with Fidelity, Square, and others. A few days later, Coinbase made the announcement that it was joining the DeFi Alliance, a group that offers companies in decentralized finance (DeFi) advice on rules and market procedures.

The source claims that in order to realize gains and boost liquidity so that it can take advantage of opportunities, Blockchain.com sold illiquid holdings.

Blockchain.com was one of several corporations that allegedly had interest in purchasing derivatives exchanges and clearinghouse LedgerX. BC.com raised an undisclosed amount of additional capital in an October round led by the UK-based investment firm Kingsway Capital.

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