Coinbase acquires web3 adtech platform Spindl

Coinbase, the largest crypto exchange in the U.S. has acquired Spindl, the onchain ads and attribution platform founded by Antonio Garcia-Martinez. The terms of the deal were undisclosed.

Spindl, founded in 2022, will operate under the Ethereum Layer 2 incubated by Coinbase called Base.

“As we integrate this team & technology into Base, as with all things on Base, we're committed to maintaining open standards for publishers and advertisers alike,” Coinbase wrote in a blog post. “These principles will help us scale the ecosystem while keeping it open, fair and inclusive for everyone.”

Garcia-Martinez, a former Facebook employee focused on advertisements, gained prominence as a tech commentator after publishing “Chaos Monkeys.”