Coinbase receives CFTC as a FairX fair! Ark Fund raises assets in COIN

Coinbase, the leading cryptocurrency exchange in the United States, officially announced today (13) that it has officially acquired the FairX derivatives exchange. All procedures must be completed within the company during the first financial quarter, during which time FairX will operate normally.

Founded in May 2021, FairX is a derivatives exchange (DCM) regulated by the United States Commodity Futures Trading (CFTC), with industry leaders TD, Ameritrade and E * Trading and 18 other affiliates and brokers.

Derivatives trading equipment begins to prepare

“Through FairX's existing ecosystem partner, Coinbase plans to bring the cryptocurrency standard to market,” Coinbase said in a statement. At the same time, we are planning to implement the FairX process to offer cryptocurrency benefits to all Coinbase users in the United States.

"We hope to provide a user-friendly Coinbase experience to make it easier for millions of vendors to access trading derivatives."

Regarding the importance of the development of the derivatives market, Coinbase noted that the development of transparent derivatives is an important part of the market for all derivatives.

FTX Acquired LedgerX to Provide Industrial Derivatives

Coinbase's acquisition of FairX followed a similar process last year, when competitors to FTX.US requested an exchange.

According to previous reports, FTX.US completed the acquisition of LedgerX, an American exchange firm at the end of October last year and changed its name to FTX US Derivatives. It provides FTX.US with CFTC-authorized licenses to facilitate exchanges to provide crypto futures, options, and other securities to US retail markets.

Brett Harrison, President of FTX.US at the time, said, “Completing the acquisition (LedgerX) is just the first step in delivering the best value to US users and the strategies to bring crypto- currency to US users will continue. . Therefore, the completion of this purchase can be considered a significant change for FTX.US.

Ark Fund buys Coinbase shares

According to "Blockworks", the Ark fund will buy more than 240,000 Coinbase shares in a row this week (total value of $56.31 million). On the 11th, Innovation ETF (ARKK) added 86,295 shares to Coinbase, Fintech Innovation ETF (ARKF) added 57,223 shares, and on the 12th, Ark Next Generation Network Active ETF (ARKW) added 98,572 shares to Coinbase. This puts Coinbase second after Tesla with 6.84% of ETFs.

Ark analyst Maximilian Friedrich said in a recent webinar that Coinbase's role as a leader in cryptocurrency access and product addition plans would make it more profitable for long-term investments.

“Long term, we believe Coinbase will continue to capture market share from the packaging industry, which will increase the volume and visibility of platform users.