- Armstrong said the Coinbase (NASDAQ:COIN) is adding $500M worth of crypto to its balance sheet.
- He said that they recently got the board approval to buy cryptos.
Coinbase CEO Brian Armstrong said the company is adding $500 million worth of crypto to its balance sheet.
The CEO announced the news via Twitter. He said that they recently got the board approval to buy cryptos and add to their existing holdings.
According to the leading U.S. exchange by trade volume, they will be investing 10% of all profit in crypto. Also, he added that he expects this rate to keep growing over time as the crypto economy matures.
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 Ar...