Coinbase plans to add half a billion dollars in cryptocurrencies to its balance sheet and invest 10% of profits in digital assets in the future.
Coinbase CEO Brian Armstrong said the corporation hopes to eventually increase the share of profits it will spend on cryptocurrency purchases.
By According to the US Treasury, Coinbase is currently the eighth largest publicly traded crypto company and America's largest crypto broker.
According to the financial report, as of June 30, the exchange had $222.7 million in various crypto assets and $145 million in USDC on its balance sheet.
Subscribe to ForkNews on Telegram to stay up to date with news from the world of cryptocurrencies
You May Also Like
The founder of Bitstamp sued the new owner of the exchange
Nejc Kodrić filed a lawsuit against the new owners of Bitstamp for trying to acquire his remaining stake in the company at a previously agreed price.
Kraken plans private offering
US cryptocurrency exchange Kraken is considering a private offering for wealthy investors, according to Finance Magnates.
