June 18, 2024

Coinbase Earned Nearly $ 2 Billion in Commissions

Coinbase earned nearly $2 billion in trading fees

The CEO of the American exchange Coinbase, Brian Armstrong, said that since its launch the exchangeearned $ 2 billion in commissions.

We invest most of the profit back in the business to develop new products.

Armstrong also noted that he does not understand why regulators in the US are so negative towards the Libra project. 

There are many people in the world who do not have access to banking services. I hope the US authorities let these innovations happen, even though they are being developed by Facebook.

Coinbase is among 21 companies that remained with the Libra project after other major participants left the association. 

Armstrong had previously criticized US senators for forcing Stripe, Mastercard, and Visa to leave Libra Association. He declared:

This is very un-American when senators write letters to companies, forcing them to leave the project.

Based on materialscointelegraph.com