GM Brew Crew, sit back, relax, and enjoy this fall weekend crypto brew… before you get into the cold brews.

Let’s Dive In ⬇️

On the menu today:

• 😱 COINBASE CONSIDERED ACQUIRING FTX

• 👏 GOOGLE CLOUD IS ALL ABOUT THE BLOCKCHAIN

• 🚫 BYBIT TO SUSPEND UK SERVICES

Today’s Charts:

😱COINBASE CONSIDERED ACQUIRING FTX

Coinbase made two attempts to acquire FTX Europe to expand its overseas derivatives business after FTX filed for bankruptcy.

These attempts took place in November 2022 and September 2023, with Coinbase ultimately deciding not to proceed with the acquisition.

The potential acquisition was reported by Fortune, and a Coinbase spokesperson confirmed the company's interest in strategic expansion.

Other parties interested in acquiring FTX Europe included Crypto.com and Trek Labs, and the sale deadline was extended to September 24.

The global crypto derivatives market accounts for nearly 75% of crypto trading volume worldwide, making it a critical access point for traders.

This would have been WILDDDDD!!

👏 GOOGLE CLOUD IS ALL ABOUT THE BLOCKCHAIN

Google Cloud's BigQuery service has expanded its offerings by including data from 11 additional blockchain networks.

The newly added blockchain networks ➡️ Avalanche, Arbitrum, Cronos, Ethereum's Görli testnet, Fantom, Near, Optimism, Polkadot, Polygon's mainnet, Polygon's Mumbai testnet, and Tron.

Talk about a diverse group of names… 😆

BigQuery is Google's data warehouse service, allowing enterprises to store data and run queries on it.

This service offers access to various public data sets, including Google Trends and demographic information.

With the latest addition of blockchain networks on September 21, BigQuery now supports a total of 19 blockchain networks.

Big names just keep on coming - slowlyyyy, then all at once. 📈

🚫 BYBIT TO SUSPEND UK SERVICES

Based in Dubai, the cryptocurrency exchange Bybit has announced its decision to halt services for residents of the United Kingdom beginning in October, citing "regulatory changes."

“In light of the UK Financial Conduct Authority’s introduction of new rules regarding marketing and communications by crypto businesses. [...] Bybit has made a choice to embrace the regulation proactively and pause our services in this market,” said the exchange.

According to Bybit, the suspension of services “will allow the company to focus its efforts and resources being able to best meet the regulations outlined by the UK authorities in the future.”

Bybit will officially cease services in line with Financial Conduct Authorities Oct. 8 deadline for compliant marketing of crypto assets to U.K. users, ensuring transparency and avoiding legal risks.

So Bybit is temporarily stepping off the UK scene, setting the stage for a potentially remarkable comeback…?? Let's see how it unfolds. 🍿

Special Blend: Morning Meme Roast

As the CryptoBrew Daily comes to a close, we invite you to join us on Twitter for more crypto chat. Think of it as a chill gathering of like-minded folks, minus Chad talking about his 1-rep deadlift max and your tipsy uncle who always shares TMI stories. Let’s keep the crypto conversation going!

***DISCLAIMER: Please note that the information provided in this newsletter is for educational purposes only and is not intended to be construed as financial advice or a solicitation to buy or sell any assets. We urge you to exercise caution and conduct your own research before making any financial decisions.