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Cryptoknowmics 2022-04-25 10:28:54

Coinbase is Acquiring BtcTurk for $3.2 Billion to Expand its Reach

Coinbase, the world’s largest crypto exchange based in the United States, plans to pay about $3.2 billion to acquire BtcTurk, Turkey’s oldest and most well-known crypto exchange. BtcTurk is a Turk-based crypto exchange founded on July 1, 2013, and has a portfolio of 4.5 million customers. Its headquarters are in Istanbul, Turkey. Expansion of Coinbase in International Business Coinbase could conclude the BtcTurk purchase transaction with a monetary value of over $3.0 billion in a short period, according to Turkish media outlets. According to rumours, BtcTurk is on Coinbase’s radar, and Coinbase might become a significant crypto investor in Turkey. Coinbase may spend shares and cash to own the BtcTurk exchange, according to the officials involved in the subject business deal. Coinbase had already expressed an interest in growing its operations to every jurisdiction that allows cryptocurrency investing. Coinbase also announced plans to buy 2TM, a Brazilian crypto exchange, for $2.1 billion in March, scheduled to close in April. According to Coinbase officials, the acquisition of BtcTurk might be completed by the end of April after a thorough review of terms and conditions. There may also be an option to exchange shares in exchange for the purchase agreement. Mergermarket and Bloomberg have covered the current deal with two well-known news outlets. It’s also expected that the terms and conditions will be finalised soon and that a...

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