Coinbase Acquires Blockchain Analytics and Intelligence Startup Neutrino

Coinbase, one of the largest cryptocurrency exchanges and wallet providers in the US, has acquired Neutrino, a blockchain intelligence startup based out of Italy.

The move is a potential acquihire to augment Coinbase's analytics talent.

In a bid to expand its offering of crypto assets, US giant Coinbase has acquired a blockchain analytics startup Neutrino.

According to the company's official announcement, Coinbase sees blockchain intelligence as becoming increasingly important in the crypto ecosystem.

Varun Srinivasan, Coinbase's director of engineering and product, said the companies won't merge in order to allow Neutrino to continue serving external clients.

Giancarlo Russo, the CEO of Neutrino, said the company decided to join Coinbase because it was "Totally aligned with the company's mission of building an open financial system." Russo also said that the acquisition was not just a big milestone for the company, but for the entire blockchain community in Italy, where Neutrino is based.

While the news about buying Neutrino has garnered a lot of coverage, Coinbase has been on a streak of acquisitions since 2018.

Coinbase may have seen value in Earn.com's underlying technology, which lead to Coinbase's launch of Coinbase Earn, an educational website focused on cryptocurrencies and blockchain.

This means that the buy out could be a potential acquihire, as Neutrino's experience in the field of intelligence gathering could be invaluable to Coinbase as it seeks to expand its analytics offerings.

This wouldn't be the company's first acquihire either, as some speculate that Coinbase purchased Earn.com to bring Balaji Srinivasan on as CTO. The company's European clients and contacts also mean that Coinbase could start building a stronger presence in the region.