San Francisco-based company Coinbase has acquired the crypto-focused data analytics company Skew with institutional subsidiary Coinbase Prime set to use the data provided by Skew.
The crypto exchange company said that the goal of the acquisition was to make “cryptocurrency markets more transparent and accessible for institutional investors.”
Skew is the company behind the crypto data and analytics website skew.com, which has been leveraged for reports of crypto industry service providers. The analytics and comprehensive data of the company include Bitcoin (BTC) and Ethereum (ETH) spot, futures, and options market data.
Emmanuel Goh and Tim Noat founded the platform three years ago and, in the past two years, have enjoyed a fair share of popularity.
Looking forward to join the Coinbase family
The team from the Skew Company said it looks forward to being part of the Coinbase family as it believes that such partnership will expand the company’s long-term growth.
The team said joining Coinbase represents an unparalleled opportunity for Skew’s continued growth.
They also said they remain acutely focused on supporting their clients and working with ecosystem partners. “We believe our client commitment and offering will only be further enhanced by partnering with Coinbase,” the team said.
Coinbase acquisitions since 2018
In the last two years, Coinbase made a number of acquisitions, but Skew is its first, following its public listing on Nasdaq.
Since 2018, six different startups were acquired by Coinbase, although one of them (Neutrino) transitioned out because of its controversial nature. Also included in the list are Distributed Systems, Blockspring, Routefire, Tagomi, and Bison Trails.
Meanwhile, the team behind Skew said that their company has already established a relationship with the San Francisco crypto giant, and they already witnessed first-hand their impressive product-led culture.
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