Despite Claims of $150 Million Tagomi Acquisition, Coinbase Denies Purchase
- The purchase by Coinbase has not been verified by the exchange.
- Tagomi recently partnered with Binance.US.
Established in 2018 by a group of former Goldman traders and Union Square employees, Tagomi is known for its brokerage services, having recently raised $28 million with venture capital funding with Pantera, Morgan Creek, and other firms. However, based on reports from The Block and CoinDesk, sources have suggested that Tagomi has gotten the attention of Coinbase, leading to talks of an acquisition, as of November 15th.
A source that claimed to be familiar with the matter spoke with CoinDesk, saying, “Tagomi and Coinbase were in talks last week – well, Coinbase acquired Tagomi this morning for $150 million.” However, Coinbase has released a statement at the request of Cointelegraph, as the VP of communications for Coinbase – Rachael Horwitz – stated that the claims are “100% false.”
A few days ago, Tagomi collaborated with Binance.US, which is the US-based partner of the Binance crypto exchange, aiming to introduce new liquidity. However, it is notably one of less than 20 companies in the crypto industry to have secured a “BitLicense,” which is a license to operate within New York’s borders.
Last year, Coinbase launched Coinbase Prime, which is an institutional trading platform by the platform to integrate capital from Wall Street to bring into cryptocurrency. By adding Tagomi to their acquisitions, Coinbase may soon seen an influx of new institutional investors that had previously been unreachable.