Cryptocurrency exchange Coinbase has announced its acquisition of Vector.fun, a Solana-native trading platform developed by Tensor Labs, the team behind the popular Tensor Non-Fungible Token (NFT) marketplace. While the financial terms were not disclosed, the deal marks Coinbase’s ninth acquisition of the year.

Launched in 2024 as a competitor to Pump.fun, Vector.fun enabled users to trade new memecoins and follow the activity of other traders through its social trading features. Tensor co-founder Richard Wu described the platform’s vision as “SocialFi,” where users can trade crypto and bond over memes with their online communities. The acquisition is expected to be finalized by the end of the year.

This move is a key part of Coinbase’s strategy to expand its presence in the Solana ecosystem and advance its goal of building an “everything exchange.” The company noted that Vector’s infrastructure is designed to identify new assets as soon as they are created on-chain. “Their tech will plug directly into our DEX trading integration to eventually improve speed, liquidity, and access to a broader set of assets across the Solana ecosystem,” Coinbase stated.

As part of the acquisition, Vector.fun’s mobile and desktop applications will be shut down. Founders Richard Wu and Ilja Moisejevs, along with 11 other Vector employees, will join Coinbase to help lead its on-chain strategy.

Tensor Foundation Assumes Control of NFT Marketplace

In a related restructuring, the Tensor Foundation will take full ownership of the Tensor Marketplace and the Tensorians NFT collection from Tensor Labs. Coinbase clarified that the foundation and its native TNSR token will remain completely independent and unaffiliated with the exchange.

The Tensor Foundation also announced several significant governance updates. All marketplace fees will now go directly to the TNSR treasury, a substantial increase from the previous 50%. Additionally, 21.6% of unvested founder and lab tokens are set to be burned, and the founders have agreed to relock their vested tokens for an additional three years while remaining on the protocol’s security council.

The announcement follows a dramatic price increase for Tensor’s TNSR token, which has surged over 500% in the past week. When asked about the spike, co-founder Ilja Moisejevs told The Block, “We have no idea what’s going on.”

The acquisition of Vector.fun continues Coinbase’s aggressive expansion in 2025, which has included deals for token management platform Liquifi, crypto derivatives exchange Deribit, and the token-sale platform Echo, all aimed at bolstering its “everything exchange” ambitions.