Coinbase once considered acquiring FTX Europe to expand its overseas derivatives business

ChainCatcher news, according to Fortune magazine, Coinbase is seeking the possibility of acquiring the FTX Europe entity to establish crypto derivatives products globally.

According to documents, although acquisition negotiations never progressed to an advanced stage, Coinbase's interest in FTX Europe indicates that as spot trading volumes have significantly declined during the bear market, derivatives are becoming increasingly important to its global business plans.

Despite attracting interest from major cryptocurrency companies in recent months, the debtor asset committee believes the acquisition is unfeasible. A spokesperson shared a statement with Fortune magazine in July, stating, "The professional advisors of the FTX debtors have concluded that there is no possibility of a sale."

Previously, both Crypto.com and FTX FDM expressed interest in acquiring FTX Europe. According to financial data provided by Fortune magazine, the platform continued to gain tens of thousands of users until its parent company went bankrupt.