Coinbase is one of the oldest and most popular U.S. based cryptocurrency exchange, generates tons of daily volume as well as supporting crypto-to-fiat transactions. Coinbase is among a few cryptocurrrency exchanges at which one can buy cryptocurrencies for fiat. It even has applied for a U.S. banking license. For sure, it is a prefect business to be considered for take-over.
Facebook is rumored to be taking over Coinbase at recent lows of crypto space, as per the UK publication The Independent.
The tech entrepreneur also said that,'' It wouldn't surprise me if Facebook made an attempt to take-over Coinbase''. The rumors started spreading recently when Facebook lifted cryptocurrency ads ban.
Coinbase has valued itself worth $8 Billion back in April 2018, with $1 Billion in revenue in 2017. Despite having technical complaints and poor customer support, Coinbase still managed to earn $1 Billion in revenue. A business like that is surely lucrative for Facebook to take over.
Although, Facebook hasn't made any official statements yet, but it also hasn't denied any of it.
Let's see what next step Facebook has in its pocket.
Thanks for reading ....!!
No! Not good.
If that becomes true, in no time they will issue their own coin or take over bitcoin.
Bitcoin can't be taken over.
If Facebook managed to persuade a lot of Bitcoin users and miners to run its own proprietary version of Bitcoin software, facebook would than control the rules. Or even better if they build a user-friendly secure Facebook hosted Bitcoin wallet more than 2.billion users would be integreted. Let them watch some ads and get rewarded... Morgen Peck already wrote about this scenario on Medium.
Money talks ;-
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