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Purchase agreement between Coinbase and BtcTurk shelved

Purchase agreement between Coinbase and BtcTurk shelved
According to the news of Mergermarket’s Erdinç Ergenç, citing different sources, the negotiations between Coinbase and BtcTurk ended in disagreement.

If you remember, we shared with you the news that BtcTurk could be purchased by Coinbase with a valuation of over 3 billion dollars in the past months . According to the news we received at that time, BtcTurk was on the radar of Coinbase, one of the most important cryptocurrency exchanges of today. However, now, according to the news of Mergermarket ‘s Erdinç Ergenç citing different sources, the meetings between Coinbase and BtcTurk resulted in disagreement .

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According to the rumors from sources close to the companies, there were allegations that the purchase agreement between Coinbase and BtcTurk will be around $ 3.2 billion. It was also among the rumors that part of the $ 3.2 billion purchase price could be paid in shares and the remaining part in cash. 

Even though it is said that the fall of Bitcoin and the depreciation of Coinbase shares were effective in the shelving of this purchase, the situation is not quite like that, according to Mergermarket. The reasons for the disagreement between the two sides were stated as independent reasons. 

Founded in 2012 by Brian Armstrong and Fred Ehrsam in San Francisco, Coinbase has so far acquired startups such as FairX, Unbound Security, BRD, Agara, Zabo, skew, Bison Trails, Tagomi Routefire, and Neutrino. BtcTurk, which was founded in 2013 by Kerem Tibuk , was purchased by Özgür Güneri, one of the important names of the financial world in our country, in February 2018 . 

If there is an official statement on the subject, we will share it with you.

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