Welcome all to this rumour discussion, please contribute in the comments if you have any additional information not mentioned in this analysis.
I was really excited by this rumour when I first saw it, it was popping up everywhere - Youtube, Hacked, Toshi Times. A big tech company entering the cryptocurrency market could finally legitimise the space. Say what you will, legitimacy is not one of the strong suites of the crypto space and is likely barring it from mass adoption. A company like Facebook stepping in would tell everyone - hey this is not all just a huge ponzi scheme (a belief my parents can't drop and I'm sure many others share).
This rumour started from an Economist article [1] that simply said this,
There are rumours Facebook wants to buy Coinbase, a cryptocurrency firm.
That's it, they don't cite any references, it's not a quote from anyone. THAT IS IT. The Independent, a UK publication then takes this quote and runs with it [2]. They make the connection that facebook recently lifting it's ban on crypto ads and the Economist rumour are related and also consult a tech entrepreneur who seems unskeptical of the rumour,
"It wouldn't surprise me if Facebook made an attempt to acquire Coinbase," tech entrepreneur Oliver Isaacs told The >Independent. "Whether [Coinbase CEO] Brian Armstrong and the team would agree is another question."
This is the only evidence that I have seen so so far supporting this rumour and I am not convinced. Please let me know if you have any other information.
The crypto space is awash with false information and many I know (including myself) have fallen prey to it and made bad investments. Let's stay together as a community, dispel untrue stories and not engage in hysteria.
Cheers guys!