Coinbase to acquire The Clearing Company: Powering the future of prediction markets
TL;DR Coinbase has entered an agreement to acquire The Clearing Company, a prediction markets company innovating at the frontier of regulated, onchain markets. The team brings deep expertise that will help power and scale prediction markets on Coinbase, accelerating our roadmap toward being the Everything Exchange.
Last week, we began rolling out access to prediction markets on Coinbase. Coinbase users will be able to trade on the outcomes of real-world events directly within the same interface where they trade crypto, derivatives, and equities.1
Today, we’re building on that momentum by acquiring The Clearing Company, a startup with a strong vision for the future of prediction markets. The team is composed of prediction market veterans, led by founder Toni Gemayel, a visionary product and growth leader who helped shape the modern prediction markets landscape. Toni and the team will help scale world-class prediction markets trading on Coinbase and accelerate our ambitions for this exciting category as part of the Everything Exchange.2
Why this matters
Prediction markets let people trade on real-world events across everything from elections and the economy to sports and culture. We have an opportunity to enable millions of customers around the world to seamlessly participate in prediction markets right alongside their cash, crypto, equities, and derivatives portfolios.
This is where the pieces come together:
We just introduced prediction markets to Coinbase users through a regulated venue and a familiar trading experience.
The Clearing Co. adds the specialized talent needed to take this category further.
Building the Everything Exchange
The Everything Exchange will be the unified place where people can trade every asset class. Prediction markets are a natural fit for this vision. Bringing together regulated market access and deep event-contract expertise sets us up to expand over time, and we’re excited to work with The Clearing Co. team to build this next chapter at Coinbase.
Disclosures
1 Listed futures and swaps are offered via Coinbase Financial Markets, an NFA member firm registered with the CFTC. Spot accounts are maintained by Coinbase, Inc., which is not CFTC registered and is not a member of the National Futures Association.
2 This transaction is subject to customary closing conditions and is expected to close in January.
Forward-Looking Statements
This blog contains forward-looking statements including, but not limited to, statements related to Coinbase’s anticipated closing of this acquisition as well as the integration of this acquisition and its expected benefits. These forward-looking statements are based on management’s beliefs and assumptions, and investors should not place undue reliance on any such forward-looking statements because they speak only as of the date they are made. Coinbase does not undertake any obligation to update or revise any forward-looking statements. In addition, forward-looking statements are subject to certain risks and uncertainties that could cause actual results, events and developments to differ materially from Coinbase’s historical experience and its present expectations or projections. These risks and uncertainties include, but are not necessarily limited to, those described in Coinbase’s filings with the SEC.
About Max Branzburg
Max Branzburg is the Vice President of Product at Coinbase, where he oversees all product development and growth for Coinbase’s consumer products. Prior to Coinbase, Max co-founded and built Google Pay India, which now has over 100M active users. Before that, Max was part of Google’s business operations and strategy team, where he worked on a variety of initiatives to drive growth at the company across Cloud, YouTube, and Google X “moonshots” like robotics and drones. Max holds a Bachelor of Arts degree from Princeton University.
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