Let us hope that the rumours are true - Facebook looking to take over Coinbase
There is a great news for crypto lovers from Facebook that the company have lifted their blanket ban on advertisement of cryptocurrency on its medium. So, it becomes quite clear that the company is now going to allow cryptocurrency products and services to be advertised on their medium once again subject to fulfilling a set list of criteria. These criteria also states that ICO advertisements will still remain banned. There is further speculation that Facebook may be planning something major in the space.
The decision has resulted in rise of rumours that Facebook could possibly have two major interests for this decision
- They may be planning to bring out their own cryptocurrency and
- They could possibly be looking to purchase Coinbase -- one of the world's most popular cryptocurrency exchanges..
(Source: https://www.economist.com/)
As per experts, not only the acquisition of Coinbase Exchange will boost Facebook’s value and utility, but in addition would also result in legitimacy to cryptocurrency markets. Facebook reportedly consists of more than 2 billion users. Therefore, any cryptocurrency it may introduce could potentially have a far greater reach than bitcoin or any of the other cryptocurrencies currently on the market .