This week Coinbase made their first acquisition since going public in the spring. The San Francisco-based cryptocurrency exchange bought Data Firm Skew for an undisclosed amount. Skew, which was founded in 2013, tracks market trends for institutional investors, and is used by Coinbase as a way to identify and address sudden shifts in trading behavior.
Cryptocurrency exchange Coinbase may have just acquired a new strategic partner with its first acquisition in 2018. This is a very important move for the company, especially since it has been able to secure its first acquisition since its initial public offering on the Nasdaq. Coinbase has acquired a UK-based data firm called Skew. This is the first acquisition that Coinbase has made since its initial public offering on the Nasdaq.
The 30th. In April, cryptocurrency data analytics company Skew announced it had been acquired by San Francisco-based Coinbase. The exchange will use Skew’s data in conjunction with its institutional subsidiary Coinbase Prime. The goal is to make cryptocurrency markets more transparent and accessible to institutional investors.
Coinbase acquires analytics company Skew
Skew, the company behind the crypto data and analytics site skew.com, has been acquired by Coinbase, according to a recent blog post. Bitcoin.com News and many other cryptocurrency industry service providers have used biased analysis to report on cryptocurrency derivatives markets. Skew’s complete data shows spot, futures and options data for Bitcoin (BTC) and Etherium (ETH).
The platform was founded three years ago by Emmanuel Goh and Tim Noate, and in the past two years, Skew’s analytics have become very popular. The Skew team says it is excited to join the Coinbase family and believes it will develop the company’s long-term growth.
Joining Coinbase represents an unprecedented opportunity for Skew’s continued growth, Skew said Friday. We continue to focus on supporting our customers and working with our ecosystem partners. We believe the partnership with Coinbase will further strengthen our commitment and offering to our customers.
Skew was the seventh acquisition of a publicly traded company since 2018.
Coinbase has made a number of acquisitions over the past two years, but the purchase of Skew follows the company’s recent listing on the Nasdaq exchange. Since 2018, Coinbase has acquired six different startups, and one was withdrawn (Neutrino) after the acquisition became controversial. In addition to this acquisition, Coinbase at 19. January 2021 Acquisition of Distributed Systems, Blockspring, Routefire, Tagomi and Bison Trails
The team behind Skew said the company had already built a relationship with the San Francisco-based crypto giant and had seen its impressive product management culture firsthand. However, the blog post did not specify the monetary value of Skew’s acquisition. There is a strong relationship between Skew and Coinbase, so Coinbase will be a great place for our team, Skew said in a statement.
What do you think of Coinbase’s acquisition of Skew? Let us know what you think in the comments below.
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Acquisition, analytics, Bison Trails, Blockspring, COIN, Coinbase, Coinbase Acquisitions, Coinbase Prime, crypto data, data, distributed systems, Emmanuel Go, finance, futures markets, Nasdaq Direct Listing, options markets, Routefire, Skew, Skew analytics, Skew Data, Spot Markets, tagomi, Tim Noat
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