Coinbase amasses a $4B war chest so it can outlast ‘crypto winter’
Strong revenues over the past two quarters from a large user base helped the exchange amass the funds. Coinbase, the largest American cryptocurrency exchange, has stockpiled a war chest worth about $4 billion in cash in preparation for decreased crypto retail trading volumes and higher operating costs brought on by regulatory hurdles.It reportedly expects to use the cash to cover costs incurred by a variety of factors, including conforming to new regulations handed down by the United States legislature.Coinbase CFO, Alesia Haas, told the Wall Street Journal that no one single danger to the....
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Coinbase announced its official launch in Japan in partnership with banking giant Mitsubishi UFJ Financial Group providing a “quick deposit” fiat on-and-off ramp. Coinbase, the top crypto exchange in the U.S. has announced its official launch in Japan in partnership with banking giant Mitsubishi UFJ Financial Group (MUFG).The firm led by CEO Brian Armstrong announced on Aug. 19 that it will first launch retail trading products including “a suite of five top assets based on trading volume,” with more assets and products to be listed in the coming months. “We also plan to introduce more....
Approximately 90 staff have been let go by the Brazilian crypto unicorn 2TM, citing ‘Crypto Winter’ or the prolonged period of flat trading following a price collapse, sources with knowledge of the matter said. 2TM is the investment firm for Mercado Bitcoin, the biggest cryptocurrency exchange in Brazil based on market capitalization. The layoffs represent […]