Cryptocurrency exchange will acquire Skew, a data analytics platform for an undisclosed price. According to an announcement, the acquisition is expected to close in the coming month. The acquisition will allow Skew to accelerate the pace of the platform’s development and support its product ambitions, the company said.
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"We very much look forward to working with the Coinbase team to combine skew's leading analytics platform and derivatives expertise with Coinbase's best-in-class institutional product suite," Skew added in the announcement.
The company also revealed that Coinbase had been its client since it launched skewAnalytics. Meanwhile, Intercontinental Exchange (ICE), an operator of the New York Stock Exchange (NYSE) and the platform Bakkt, announced it had sold its stake in Coinbase.
According to the company's first-quarter earnings statement, the $1.23 billion it has earned from the sale of the shares will be included in ICE's earnings for the next period.
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