Coinbase Global Inc. has declared openly on Wednesday via Twitter that it has pointed out an application with the National Futures Association (NFA) to register as a Futures Commission Merchant (FCM), tori4africa learnt.
In their twitter handle, the amazing exchange wrote;
This is the next step to broaden our offerings and offer futures and derivatives trading on our platforms.
The exchange augmented that its goal is to “Further grow the cryptoeconomy.” The filing shows that the company is registered as Coinbase Financial Markets Inc.
Coinbase Crypto Derivatives
Talking about Crypto derivatives, most major cryptocurrency exchanges offer derivatives trading, including Binance, Okex, FTX, CME Group, and Kraken.
Recall that in April, Coinbase declared openly that it had amassed Skew, a crypto data analytics firm that specializes in tracking the derivatives market.
The exchange is currently raising funds by issuing bonds. Initially, the company planned to issue $1.5 billion worth of senior notes, but due to high interest, it has raised the amount to $2 billion. Coinbase said it intends to use the net earnings from the offering
For general corporate purposes, which may include continued investments in product development, as well as potential investments in or acquisitions of other companies, products, or technologies that Coinbase may identify in the future.
The price of Shiba Inu (SHIB) boosted for the week as investors analyzed its inclusion on Coinbase, the world’s most valuable crypto exchange. We have seen a 22% increase in the token’s price.
For the first time since June 29, 2021, the meme coin exchange rate increased by 16% to $0.00000950.
Recently, the meme coin SHIB has been rolling uphill in a bullish trend that began Thursday amid strong buying pressures while Bitcoin struggled to stay afloat the $48k price levels.