Coinbase Set to Add Over $500M in Cryptocurrencies to Balance Sheet
Earlier on Thursday, cryptocurrency exchange Coinbase announced that it would purchase more than $500 million in various cryptocurrencies to add to its balance sheet. Coinbase CEO Brian Armstrong first broke the news via Twitter, stating that the exchange had received approval to purchase upwards of half a billion dollars in digital assets. On Wednesday, the […]
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CEO Brian Armstrong expects the percentage of profits spent on cryptos to grow over time. Leading U.S. exchange by trade volume, Coinbase, has revealed plans to add half a billion dollars worth of crypto to its balance sheet.Coinbase CEO, Brian Armstrong, announced that the company’s board had approved the crypto spending spree in an August 20 tweet, adding that Coinbase also plans to invest 10% of all profits generated into digital assets moving forward.Armstrong also indicated the company hopes to increase the percentage of profit it allocates to cryptocurrency purchases over time.We....
Coinbase has announced that it plans to invest 10% of all profits in crypto. The exchange is one of the leading crypto exchanges in the world and with their profit margins, 10% will be a big investment going into crypto. All crypto purchases with crypto will be kept on the balance sheet going forward. And the CEO expects this percentage to go up with time. Related Reading | Grayscale Tops Up Ethereum Investment To $10 Billion The exchange has recorded massive profits for the last year alone. Coinbase had announced a total profit of $.17 billion back in 2020. If this directive was in....
PSV received bitcoin through a sponsorship deal in August and confirmed they self-custody it on their balance sheet.
CEO Michael Saylor struck a defiant tone during a Q2 investor call, pledging to add more Bitcoin to its balance sheet while continuing to advocate for the cryptocurrency.
Global space provider Wework has announced that it will now accept payment in select cryptocurrencies. The company has partnered with Bitpay and Coinbase for inbound and outbound transactions. In addition, the Softbank-backed company says it will also hold the currency on its balance sheet. Wework Dives Into Crypto Wework announced Tuesday several initiatives regarding cryptocurrencies. The company provides environments for individuals and businesses, from freelancers to Fortune 500 companies. With over 800 locations worldwide in more than 150 cities, Wework says it is the largest global....