A sensational new rumor has been making the rounds lately – that Facebook, the social media behemoth, is eyeing an acquisition of Coinbase, one of the most popular cryptocurrency exchange platforms.
A potential acquisition would have dramatic effects on the general adoption and awareness of cryptocurrencies. Although Facebook is still reeling from the Cambridge Analytica scandal, it is still the world’s biggest social network with more than 2 billion active users each month.
As such, this rumor could easily be chalked up to wishful thinking or speculation gone awry. However, there’s actually more substance to it than one might initially assume. First and foremost, reports of a possible Facebook acquisition of Coinbase have first lifted in an article The Economist ran in early June.
What’s more, Facebook has just recently lifted its ban on cryptocurrency and ICO advertisements. This change in course comes after the social media network previously banned cryptocurrency advertisements this January, which Twitter and Google would later do as well.
Therefore, it came as somewhat of a surprise when Facebook recently announced that it would reverse its stance on cryptocurrency advertisements.
Whilst some previously argued that this reversal was motivated by Facebook being reluctant to forgo the massive market that is cryptocurrency advertising, some are now speculating that this more cryptocurrency-friendly policy could be linked to a possible Coinbase purchase.
Moreover, Facebook has recently undertaken a major management reshuffle, which also involved the launch of a blockchain technology division. This division would reportedly look at
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Source: Toshi Times
Original Post: Facebook To Acquire Coinbase?
