Coinbase Approves Massive Crypto Investments

WebProNews
Coinbase Approves Massive Crypto Investments

Coinbase has announced it will purchase $500M of crypto, and invest 10% of all future profits in crypto.

Coinbase is one of the leading cryptocurrency exchanges, and has some of the best brand-name recognition in the business. The company is going all-in on the technology it facilitates, with both a large one-time investment and a significant ongoing one.

CEO Brian Armstrong made the announcement via Twitter.

We recently received board approval to purchase over $500M of crypto on our balance sheet to add to our existing holdings. And we'll be investing 10% of all profit going forward in crypto. I expect this percentage to keep growing over time as the cryptoeconomy matures.

— Brian Armstrong (@brian_armstrong) August 19, 2021

Coinbase Approves Massive Crypto Investments
Matt Milano

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