Coinbase Acquires Solana-Native Decentralized Exchange 'Vector' from Tensor

Crypto exchange Coinbase has agreed to acquire Vector, a Solana memecoin launchpad deployed by NFT marketplace Tensor late last year. Exact terms of this deal remain undisclosed, but it is Coinbase's first acquisition of a Solana-focused crypto application.

What's the Scoop?

• Solana Push: Coinbase wants to become a "one-stop-shop for trading everything onchain." It sees Solana as an important network to capture, and hopes its purchase of Vector will broaden asset availability and improve the trading experience of Coinbase's DEX trading integrations.
• Suspicious Pump: After months of down-only price action, Tensor's TNSR token suspiciously suspiciously surged by nearly 1,000% to start this week. The rally topped out early Thursday morning (prior to this announcement), and TNSR was down 46% of its local high at the time of writing.
• Tensor Independence: Coinbase is only acquiring Vector. The Tensor Foundation will remain independent from Coinbase and will steward the Tensor NFT marketplace and native token, which will also remain independent and unaffiliated with Coinbase.
• Vector Vanishes: Coinbase intends on sunsetting current Vector applications. Beginning November 26, Vector will no longer accept new accounts (existing users can continue to close positions and withdraw funds).