Coinbase, the Largest U.S. Exchange, to Acquire Emerging Company to Strengthen Prediction Market Operations

Coinbase, the largest U.S. cryptocurrency exchange, announced on the 22nd that it has reached a final agreement to acquire the prediction market startup The Clearing Company. The acquisition amount has not been disclosed but will be paid in a combination of cash and stock. The transaction is expected to be completed by January next year. The Clearing Company, established just this year, is composed of a team of experts including founder Toni Gemayel, who have gained experience in prediction market platforms such as Polymarket and Kalshi. Nearly all of its approximately 10 employees are set to join Coinbase.