Coinbase, the major U.S. based cryptocurrency exchange and crypto custordial service provider has denied recent rumors of it acquiring of the electronic brokerage Tagomi, Cointelegraph reports on December 1st.
The rumors have started when the crypto news outlet CoinDesk reported sources close to Coinbase have revealed the company aquired the brokerage company for USD150M following alleged negotiations between the two companies in November. However, the VP of communications for Coinbase, Rachael Horwitz, stated the rumours are “100% false” when reached out to by the news reporters from another crypto news outlet - Cointelegraph.
Coinbase CEO stated earlier this year that the U.S. company is now actively looking for ways to branch out and reorient from their primary business model. While pushing hard for their cryptocurrency custodial services and acquisition such as this wouldn't contribute much to the company long term, as Tagomi offers digital assets same as Coinbase is currently doing. However, crypto being crypto, rumors take off in the shortest of time. With the statement from the company's VP, those rumors have been set to rest, but that doesn't mean we won't be seeing any new acquisitions or projects launched in the near future.