Crypto exchange Coinbase, which is currently valued at $8 billion, has recently announced a couple of other positive developments. Some of them are the launch of a $20 billion hedge fund and the relaunch of advertising on Facebook.
Not long ago, Coinbase management decided to focus on large institutional funds. This month it launched an asset custody service, and earlier this year it created Coinbase Prime, a dedicated suite of tools aimed at institutional investors. The new strategy appears to be already bearing fruit.
The lack of premium brokerage services is a serious obstacle for large investors who do not like to risk their assets. Coinbase solved this problem by launching their own set of tools for large institutions and institutions. The company is also reportedly set to provide margin financing services by the end of this year, allowing institutional investors to trade leveraged capital.
Advertising messages from Coinbase will now be visible on Facebook. Brian Armstrong, the company's CEO, said:
“Earlier this year, Facebook banned all cryptocurrency advertising. We are proud to announce that we have received advertising approval and will attract more people to our industry..
Following a complete ban at the beginning of the year, Facebook has changed its approach to the issue and now only allows advertising to "pre-approved advertisers".
According to news.bitcoin.com
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