Coinbase, a crypto exchange, has decided not to pursue the acquisition of FTX Europe, a derivatives business, after exploring the option twice since the company filed for bankruptcy in November 2022. A spokesperson for Coinbase confirmed that the exchange is always evaluating opportunities to expand its business.FTX Europe operated its derivatives business under a Cyprus regulatory license and was the only firm to offer some popular derivatives products, such as perpetual futures. Derivatives are financial instruments whose value is derived from an underlying asset, such as Bitcoin.The acquisition would have potentially boosted Coinbase’s fees revenue as crypto derivatives trading is on the rise, despite the bear market. Global derivatives volumes traded on centralized exchanges increased 13.7% in June to $2.13 trillion.Coinbase has also moved into derivatives markets in the United States. In August, it obtained regulatory approval to offer investments in crypto futures to eligible customers in the country. The global crypto derivatives market represents nearly 75% of crypto trading volume worldwide.

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Information	Details
Geography	Europe
Countries	🇨🇾 🇺🇸
Sentiment	neutral
Relevance Score	9
People	None
Companies	FTX Europe, Trek Labs, Commodity Futures Trading Commission (CFTC), Coinbase, FairX., Crypto.com
Currencies	Bitcoin, cyp., Ethereum, US Dollar, Euro
Securities	None