Facebook to buy Coinbase after eliminating The Crypto Ban | Rumor or News?

While everybody were expecting facebook to release its own cryptocurrency, facebook made a surprising move by taking out the ban they made 3 month earlier and now the possibility of buying coinbase one of the largest crypto exchange/buy-sell platforms. Is that just some speculation from the independent or has roots in facebook recent activities towards cryptos?

“One of the most interesting questions in technology right now is about centralisation vs decentralisation,” Zuckerberg wrote. “With the rise of a small number of big tech companies… many people now believe technology only centralises power rather than decentralises it.

The Independent reported the likelihood of a surprising deal about facebook buying coinbase.

“It wouldn’t surprise me if Facebook made an attempt to acquire Coinbase,” tech entrepreneur Oliver Isaacs said. “Whether [Coinbase CEO] Brian Armstrong and the team would agree is another question.”

The rumors come the same week that Facebook abruptly reversed its ban on cryptocurrency advertising. Citing “misleading” and “deceptive promotional practices” from certain development teams behind cryptocurrencies and ICOs, the social media giant caused an uproar when it instigated the content block in January.

“Customer safety and education about the market should remain a priority, but a blanket ban is a poor approach to new ideas,” Iqbal Gandham, the UK managing director of the eToro investment platform told The Independent. “Technology giants like Facebook are aware of the potential of blockchain technology to fundamentally change the financial system.”

Facebook announced its biggest ever management reshuffle, that included the launch of a blockchain group that reports directly to the company’s CTO, Mike Schroepfer. The head of the group is David Marcus, the former head of Facebook Messenger and a board member of Coinbase – one of the world’s most popular cryptocurrency exchanges.

Previously reported by The Economist, experts say that not only could the acquisition boost Facebook’s value and utility, the involvement of the technology giant would add legitimacy to cryptocurrency markets.

Tags: Crypto, cryptocurrency, coinbase, facebook, facebook buying coinbase, facebook crypto coin, facebook coin, facebook coinbase, Facebook to buy Coinbase after eliminating The Crypto Ban

Mohsen Daemi
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