Cryptocurrency exchange Coinbase is reportedly in talks to acquire Turkish bitcoin exchange BtcTurk, Webrazzi reports, citing sources close to the matter.
Subscribe to our Telegram channel to get daily short digests about events that shape the crypto world
According to the report, the US-based exchange might pay as much as $3.2 billion in cash and stocks for the deal, however, the talks are still in progress and no final decision has been made yet. Webrazzi says the initial price was set at the $5 billion mark, but the market's decline affected the terms.
At the same time other reports say the deal has already been signed and Coinbase is completing technical due diligence. As of press time, the exchange made no official statement regarding the matter. Founder in 2013, BtcTurk is considered one of Turkey's biggest crypto trading platforms with over 4.5 million users.
Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange