DLA Piper advises FairX in its sale to Coinbase

DLA Piper represented futures exchange FairXchange, Inc. in its recent sale to global cryptocurrency exchange Coinbase.

The acquisition will bring FairX’s market-leading exchange technology and proven ability to deliver listed futures in a straightforward, easy-to-understand structure to Coinbase and will accelerate Coinbase’s goal of offering crypto derivatives to retail and institutional customers in the US. The transaction is expected to close in Coinbase’s first fiscal quarter.

“We were pleased to have supported FairX, beginning when Neal Brady, CEO, came to DLA with the idea of creating a futures exchange in 2019, through its various financing rounds and ultimate sale to Coinbase, bringing together our extensive startup and transactional experience and our deep understanding of the fintech sector,” said Scott Kapp, the DLA Piper partner who, along with partner Adam Spector, led the firm’s deal team.

“Working with Scott, Adam and the entire DLA Piper team has been a fantastic experience,” said Neal Brady, CEO of FairXchange. “In addition to providing excellent legal counsel and being a great advisor throughout the last several years, the DLA team has always impressed me with their unique business judgment, attention to detail and ability to anticipate what our company would need.”

In addition to Kapp and Spector (both of Chicago), the DLA Piper team representing FairX included associate Lizzie Abramson (Chicago).

With more than 1,000 corporate lawyers globally, DLA Piper helps clients execute complex transactions seamlessly while supporting clients across all stages of development. The firm has been rated number one in global M&A volume for 11 consecutive years, according to Mergermarket.

DLA Piper advises on all aspects of the fintech sector, representing a wide range of clients, including banks, private equity and venture capital funds, asset managers, broker-dealers, insurance companies, trading platforms and exchanges, and distributed-ledger technology platforms. The firm’s multidisciplinary team around the world offers integrated legal solutions that help clients navigate the increasingly complex environment at the intersection of transactions, technology and regulation.