Coinbase Becomes Owner Of Neutrino Blockchain Startup
Coinbase, the leading US crypto platform, has acquired an analytical blockchain company Neutrino. The parties do not disclose the transaction value, CoinDesk reports.
Thus Coinbase seeks to diversify the offer of crypto assets not only in the US market but also beyond. This step seems to be very timely, as the company has to interact with regulators in various jurisdictions around the world, the company's top manager Varun Srinivasan stated. Neutrino can help find out which tokens are most valuable at a particular moment.
It is assumed that eight Neutrino specialists will move to London, where the Coinbase branch is located, and will work as an independent division of the company.
According to Srinivasan, the deal will help Coinbase examine new types of assets thoroughly, not only in terms of their value but also in terms of security. The crypto exchange will be able to protect itself from unwanted activities and from leakage of internal information.
It is noteworthy that Neutrino was purchased some time after Whitestream analysts from Israel found the Coinbase account, from which unknown people donated bitcoins to the Palestinian military organization Hamas, which was recognized terrorist by the US. Coinbase did not comment on this situation.
Neutrino CEO Giancarlo Russo expressed his full support for the Coinbase mission, aimed at creating a transparent financial system and a high level of security.
As previously reported, Coinbase paid a fee of $30,000 for found vulnerabilities in the operation of its systems.