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Coinbase jumps on Liquifi acquisition

Coinbase, the largest crypto exchange, announced it acquired token management platform Liquifi, adding to the momentum in the crypto M&A space.

Shares of Coinbase were up 2% at market open.

Terms of the deal were not disclosed in the announcement. 

“Acquiring Liquifi gives us best-in-class capabilities in token cap table management, vesting, and compliance, and positions Coinbase to support builders earlier in their journey,” Greg Tusar, VP of institutional product for Coinbase, said in the announcement.

Tusar added that launching tokens is “too hard,” due to legal, tax, and compliance challenges. “We want to remove these barriers by providing both the product and the expertise to make token launches simple, compliant, and scalable. Our vision is a world where launching a token is easier, faster, and more global than issuing traditional startup equity.”

In May, Coinbase acquired Deribit, the biggest crypto options platform, in a mammoth $2.9 billion deal. This followed its January acquisition of on-chain ads and attribution platform Spindl

“Acquiring Liquifi gives us best-in-class capabilities in token cap table management, vesting, and compliance, and positions Coinbase to support builders earlier in their journey,” Greg Tusar, VP of institutional product for Coinbase, said in the announcement.

Tusar added that launching tokens is “too hard,” due to legal, tax, and compliance challenges. “We want to remove these barriers by providing both the product and the expertise to make token launches simple, compliant, and scalable. Our vision is a world where launching a token is easier, faster, and more global than issuing traditional startup equity.”

In May, Coinbase acquired Deribit, the biggest crypto options platform, in a mammoth $2.9 billion deal. This followed its January acquisition of on-chain ads and attribution platform Spindl

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XRP treasury firm trend grows as Evernorth, backed by Ripple Labs, enters the arena

The fifth-largest cryptocurrency by market cap, XRP, is getting a new treasury firm: Evernorth.

The firm will list on the Nasdaq and expects to raise over $1 billion in gross proceeds from SBI, Ripple Labs, Pantera Capital, Kraken, and GSR, according to a press release. Chris Larsen, cofounder and executive chairman of Ripple, also announced investing 50 million XRP tokens worth $124.5 million. Net proceeds are dedicated for open-market acquisitions of XRP.

Evernorth joins a number of firms stockpiling XRP, such as VivoPower International, Trident Digital Tech Holdings, and Webus

The announcement comes during a fragile period for crypto markets, but the latest news has boosted XRP’s price and the asset is back to flat over the last seven days.

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