By Brenda Collins
Rumors about Coinbase moving its base out of the United States may be true. The latest news is that the United States’ biggest cryptocurrency exchange firm is now in talks with relevant private and government agencies to formalize the arrangement. The information says that the company is currently talking to another cryptocurrency company overseas that can help them settle and comfortably offer access to global customers.
From the information gathered so far, the actual details of the arrangement are still skeptical, as they are yet to be made public. The location of their proposed new base and their new targeted market is still not clear as of the time of this report. It was also revealed that Coinbase has already contacted some major market dominators to familiarize themselves with the newly proposed market.
Again, details of the names of these big leagues are yet to be uncovered. In an interview with journalists, Emilie Choi: the company’s (Coinbase) Senior Operation Officer sometime last month, said that there is a need for the company to explore international expansion options. She told the public there is nothing strange in the process, “it is just part of their operational model.”
The Timing of The Decision is Considered Interesting
Debates had spiked regarding the timing of this development, considering that this was happening when the United States authorities closed down two globally acclaimed cryptocurrency banks. Meanwhile, the collapse of Signature Bank and Silicone Valley Bank has been rumored to be in connection with an internal conspiracy in the cryptocurrency industry.
It is revealed that some politicians believed it was deliberately purported. Another piece of information gathered on this development accused Coinbase of abandoning Silvergate Bank for signature Bank during their time of trouble.
Experts think that whatever is making these cryptocurrency banks collapse is infringing, and Coinbase is trying to run away from it. Meanwhile, leaked data that made it into the public scene revealed that Silvergate Bank customers have started making their way into Swiss banks, a sudden migration that started this week.
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