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The announcement by CME that it plans to launch Bitcoin futures has resulted in a spike in interest across the world. Coinbase, the world's largest Bitcoin exchange, has added 100,000 new users in the 24 hours past the announcement.
Why Coinbase matters
Coinbase is a popular exchange to buy Bitcoins with 11.9 mln users supported across 32 countries.
It was one of the earliest exchanges to support Bitcoin trading in the Western world, doing so when Bitcoin was valued in single digits. It supports merchants as well, allowing them to accept Bitcoins for their products and services, but removing the price risk by crediting fiat currency to their accounts.
Coinbase became the first unicorn of the crypto industry after it raised $100 mln in August 2017, implying enterprise valuation of $1.6 bln. The CEO of Coinbase, Brian Armstrong, is also on Fortune’s 40 under 40 list.