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.
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