Coinbase is planning to purchase crypto exchange BtcTurk in $3.2B deal: Report
The potential acquisition would follow Coinbase CEO Brian Armstrong announcing plans to expand to every country in which the exchange can legally operate. Major United States-based cryptocurrency exchange Coinbase is reportedly planning to purchase BtcTurk for $3.2 billion.According to Turkish tech media outlet Webrazzi citing a Thursday report from Mergermarket, the two exchanges negotiated a price based on the market behavior of the Turkish lira and Bitcoin (BTC), arriving at roughly $3.2 billion. One or both of the two firms have reportedly already signed a term sheet.The potential....
Related News
A globally recognized United States-based biggest crypto exchange, Coinbase, plans to acquire the Turkish oldest famous crypto exchange, BtcTurk, with almost $3.2 billion. BtcTurk is a Turk-based crypto exchange established on July 01, 2013, having headquarters in Istanbul, Turkey, and possesses a portfolio of 4.5 million customers. Related Readings | Coinbase Launches Awaited NFT Marketplace […]
We've recently reported the rise of bitcoin in Iran, Afghanistan and Israel, but now another country has jumped on the digital currency bandwagon - Turkey. BTCTurk launched earlier this month, becoming the first company to enable the exchange of Turkish lira for bitcoin and vice versa. Emre Kenci, CTO of BTCTurk, said he and his colleagues started to develop the company in January 2013 having watched interest in bitcoin increase across the globe. He told CoinDesk that BTCTurk has received a "good number" of sign-ups since it launched. "Despite the fact that there is not a single merchant....
Özgür Güneri, the CEO of BtcTurk, said that the firm joined COPA to protect technologies within crypto, especially Bitcoin. Major Turkish crypto exchange BtcTurk has joined the crypto patent alliance (COPA) to team up with prominent firms in their mission to provide open access to patents and empower the adoption of crypto technologies. COPA aims to abolish patents as it's perceived as an obstacle to innovations within the sector. The nonprofit favors a more communal approach when it comes to intellectual property. Its members include prominent crypto firms like prominent firms like....
BTCTurk, a Turkish Bitcoin exchange which launched in July 2013, has finally terminated its operations in Turkey after local banks closed the main accounts of the company without prior notice. Such abrupt termination of services from banks and major financial institutions was seen last in Australia, when the country’s leading banks, including the multi-billion dollar banking group Commonwealth Bank, closed the bank accounts and financial services of Bitcoin startups in the region. Tough choice for BTCTurk team. In contempt of their connections with the banks the company has collaborated....
Bitcoin in Turkey has come under renewed pressure as longstanding Turkish exchange BTCTurk has its bank accounts shut down. BTCTurk: Bitcoin Trading ‘Risky’. BTCTurk, which started trading in 2013, said it was currently trying to refund customer balances in the face of the unexpected withdrawal of banking relations. “The closure of the company’s bank....