Coinbase acquires Israeli Unbound Security - establishes an R&D center in Israel

Coinbase acquires the Israeli cyber company Unbound Security, and establishes a development center in Israel based on the company and its employees. Purchase amount not reported. Coinbase, founded in 2012, is the largest crypto exchange in the U.S. It has been traded on the Nasdaq since April, and its market capitalization is $ 67.8 billion. Coinbase shares are currently trading at 6% less than on the day of issue. According to the Coinbase website, the company has more than 70 million verified users, living in more than 100 countries.
Anbound was established in 2014 under the name Didiq Security, by Prof. Yehuda Lindel of Bar-Ilan University, who is currently the company's CEO; Prof. Nigel Smart; Avner Moore and Guy Peer.
The company uses a technology called MPC, which protects cryptographic keys, especially in the crypto world. The technology, which has existed in theory since the 1980s, but has only become applicable in recent years, makes it possible to protect the keys by splitting them into several parts and using them in a split way - which makes it very difficult for them to be stolen. The technology was developed in an academic study, in which Prof. Lindel was involved. Today, there are other companies that use this technology, but Unbound is one of the most prominent companies in the field.
Unbound is located in Petah Tikva, and employs about 70 people - 50 of them in Israel. The company raised about $ 40 million, including from the investment arm of Goldman Sachs and the venture capital fund Innovation Endeavors.
A press release issued by Coinbase states that "The Unbound team is a top authority in everything related to MPC (short for Secure multiparty computation) - an application of advanced mathematics, which allows crypto assets to be stored and moved more securely, simply and flexibly than before.