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Coinbase Makes Strategic Investment in Crypto Exchange Zipmex: Report
Coinbase has opted for a strategic investment instead of an acquisition despite earlier talks.
Updated May 11, 2023, 6:46 p.m. Published Jun 9, 2022, 10:27 a.m.
Coinbase Global (COIN) has agreed to make a strategic investment in Singapore-headquartered cryptocurrency exchange Zipmex, according to a report by The Block.
- Zipmex reportedly has plans to raise $40 million in a Series B+, pushing its valuation to $400 million. Last year, the firm raised $41 million in a Series B with investment from the Bank of Ayudhya, one of Thailand's largest banks.
- The exchange is headquartered in Singapore and has offices in Thailand, Indonesia and Australia. Coinbase was previously in acquisition talks with Zipmex, although it opted against that in March, according to the report.
- Coinbase shares were up 1.45% at $70.55 in pre-market trading. But by mid-morning, they had fallen 4.8% to $65.80.
- Coinbase and Zipmex did not immediately respond to CoinDesk's request for a comment.
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KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
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Tom Lee urges BitMine shareholders to approve share increase ahead of January 14 vote
The chairman of the former bitcoin miner-turned-ether treasury firm reiterated his view that Ethereum is the future of finance.
What to know:
- Tom Lee, chairman of Bitmine Immersion (BMNR), urged shareholders to approve an increase in the company's authorized share count from 500 million to 50 billion.
- Lee assured shareholders that the increase is not intended to dilute shares, but instead to enable capital raising, dealmaking, and future share splits.
- Shareholders have until January 14 to vote on the proposal, with the annual meeting scheduled for January 15 in Las Vegas.
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