bitcoinBTC/USD
$ 20,263.00
ethereumETH/USD
$ 1,148.47
tetherUSDT/USD
$ 1.00
cardanoADA/USD
$ 0.468455
xrpXRP/USD
$ 0.328357
usd-coinUSDC/USD
$ 1.00

Coinbase Will Allocate $500 Million and 10% of Profits to Crypto Investment

Coinbase will be investing $500 million from its profits into digital assets; only platform delisting of assets will prompt divesting.

10% of the net profits per quarter will also be channeled into the digital asset portfolio of Coinbase, the largest US cryptocurrency exchange, aside from the $500 million investment coming from the current holdings.

Brian Armstrong, the co-founder, and CEO of Coinbase tweeted today that the percentage allocated to crypto investments will grow alongside the maturity of the economy.

Coinbase communicated to Medium that it is committed to investing in the cryptocurrency market. This investment would make Coinbase the first company gone public that will own DeFi tokens and Ethereum (ETH) among other digital assets, including Bitcoin (BTC) that are supported by the platform itself. In April 2021, Coinbase was listed on Nasdaq.

The interest of Coinbase is a long-term investment with the possibility to divest only if the delisting of assets from the platform occurs. In the spirit of avoiding conflict of interests with users, Coinbase will either invest away from the exchange or using the over-the-counter (OTC) desk.

Coinbase is not the first company to invest in cryptocurrencies. Earlier this year, the likes of MicroStrategy and Tesla have purchased Bitcoin (BTC) with their cash reserves.

Elon Musk invested a total of $1.5 billion into Bitcoin (BTC). In June, Tesla held a total of $1.3 billion in Bitcoin (BTC). Similarly, MicroStrategy was holding roughly $2.051 billion or 105,085 Bitcoin (BTC) which makes it officially the biggest Bitcoin (BTC) holder.

 Also read: Charles Hoskinson Estimates $150 by 2021 as Cardano (ADA) Skyrockets

Also read:

Related News

In order to share their doubts about the industry, the first anti-crypto conference attendees are hoping to get a word with officials from the government.

Crypto Policy Symposium 2022: The First Anti-Crypto Conference

In order to share their doubts about the industry, the first anti-crypto conference attendees are hoping to get a word with officials from the government. Critics of the industry and doubters have joined together to host their own anti-crypto conference where they can express their doubts and connect with legislators in the midst of the most recent crypto bear market. The Crypto Policy Symposium promises to provide skeptics a platform

Read More »
One of the co-founders of OpenSea, the largest Non-Fungible Token (NFT) market in the Web 3.0 ecosystem, Alex Atallah, has stated that by the end of July, he will step down as active manager while remaining on the board.

Co-Founder Of OpenSea Announces He Is Stepping Down As Active Manager

One of the co-founders of OpenSea, the largest Non-Fungible Token (NFT) market in the Web 3.0 ecosystem, Alex Atallah, has stated that by the end of July, he will step down as active manager while remaining on the board. Atallah, who co-founded OpenSea with CEO Devin Finzer in 2017, has played a significant role in the growth of the business. His responsibilities have included community and marketing and product development, among other

Read More »
Updates have been provided on the current service freeze and new recovery efforts were outlined by the company.

Potential Solutions Are Being Considered By Celsius

Strategic deals and liabilities restructuring are being explored by Celsius. Updates have been provided on the current service freeze and new recovery efforts were outlined by the company. On June 12th, all transitions, withdrawals, and swaps were put on pause by Celsius and as of now, the company is looking for ways to recover. “Important steps to preserve and protect assets and explore options” are being taken by the company, per

Read More »

My Coins

bitcoinBitcoin
$ 20,263.004.92%
ethereumEthereum
$ 1,148.476.73%
cardanoCardano
$ 0.4684552.61%
tetherTether
$ 1.000.16%

Newest Videos on YouTube

We inform and educate people about Cryptocurrencies and Blockchain technology.

© Copyright 2021, All Rights Reserved,
Crypto Academy

Bitcoin

Contact Us

For any question conatct us through:

sales@crypto-academy.org

Disclaimer: All information and materials on this website are for educational purposes only. Crypto-academy.org does not provide any form of financial advice. Cryptocurrencies are highly volatile, therefore any form of investing carries a high level of risk to your capital. It is recommended that you seek professional advice prior to implementing any investment or financial plan.

We do not ask you for your Cryptocurrency / We do not hold your Coins / We do not ask for Private Keys / Be aware of scammers and imposters.

Contact us only through: sales@crypto-academy.org