10 months ago

Rumors were spread that the social network giant Facebook is planning to purchase the largest digital currency exchange in the US — Coinbase.

Following initial suspicions, The Independent brought up the possibility of a buyout Wednesday — quoting a source who said he wouldn’t be surprised if a deal was made. “It wouldn’t surprise me if Facebook made an attempt to acquire Coinbase,” tech entrepreneur Oliver Isaacs said. “Whether [CEO of the exchange] Brian Armstrong and the team would agree is another question.”

Despite Coinbase notoriously experiencing technical and client support problems, revenues continue to boost, reportedly reaching $1 billion in 2017 alone.

Earlier this week, Facebook reversed its ban of crypto advertising rethinking its policy concerning blockchain and crypto projects.