Cryptocurrency Exchange Coinbase Acquires Unbound Security cryptographic and preparing to open a research center in Israel
In a blog post on Tuesday, Coinbase saidWill buy Unbound to gain access to security experts. cryptographic And launching in Israel, Coinbase cited Unbound’s work on multi-party computation to provide users with “Offline storage characteristics and the smooth convenience of hot wallets”
“We have long known Israel as a home of strong technology and cryptography capabilities and are excited to continue to develop our team with the best and smartest minds in these fields,” Coinbase said. Build the center of this new research center. which we plan to grow over time.”
Coinbase did not disclose terms of the Unbound acquisition. It has previously acquired companies including Agara, an artificial intelligence-enabled platform with operations in India, Zabo data aggregator, and analytics platform. Skew data, with each deal likely to be worth millions of dollars.
Coinbase announced in August that it was accumulating about $4 billion worth of cash in preparation for a potentially harsh crypto winter. This was driven by lower crypto retail purchases and higher operating costs from regulatory hurdles. The company reported revenue of $1.2 billion in the third quarter of 2021, with total profit of $406 million.
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