Coinbase Will Not Acquire 2TM Crypto Company…Details Here

Coinbase Will Not Acquire 2TM Crypto Company…Details Here

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Answer Coinbase Will Not Acquire 2TM Crypto Company…Details Here

previously and point out In the Arab Bitcoin, about the negotiations of the “Coinbase” company with the Brazilian crypto company “2TM” for the purpose of acquisition.

But, according to herBloombergOn Wednesday, 2TM, the holding company of the first Brazilian cryptocurrency broker Mercado Bitcoin, announced the end of merger and acquisition talks with Coinbase.

“Coinbase” and “2TM” negotiations:

According to the report, Coinbase intends to acquire a controlling stake in 2TM.

Acquisition talks first began late last year, and the potential takeover process is nearing its final stage.

Although 2TM declined to comment on the matter, the Brazilian company hired Wall Street powerhouse JPMorgan Chase & Co to advise on the operation in March.

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Currently, it remains uncertain why the talks ended without an agreement or whether the two companies would return to the negotiating table in the future.

In December, 2TM raised $50 million from industry investors to further its expansion into other Latin American regions.

After raising the funding, the company reportedly acquired a controlling stake in Portuguese digital asset trading platform CriptoLoja.

Coinbase’s pursuit of global expansion:

Coinbase, which had a market capitalization of nearly $27.5 billion on Wednesday, has been shopping and doing more mergers and acquisitions that will help it expand its global presence and get more users into the crypto industry.

The company’s CEO, Brian Armstrong, has previously predicted that the total number of crypto users in the world will reach one billion within the next 10-20 years, and Coinbase intends to play its part in making that a reality.

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