April 25, 2024

Coinbase has received nearly $ 2 billion from trade commissions since 2012

The CEO of the American cryptocurrency exchange Coinbase, Brian Armstrong, said that since 2012the company received almost $ 2 billion from trading commissions.

At the Vanity Fair Summit, Armstrong emphasized that Coinbase has always developed and implemented new technologies, and therefore remained profitable even in the most difficult times for the cryptocurrency industry.

“Most of this profit we invested in business and the creation of new products. I want Coinbase to be a company with continuous innovation, ”said Armstrong.

The Coinbase CEO also noted that he did not expect such a negative reaction from US regulators to the Libra project being developed by Facebook.

“I would really like the United States to becomea leader in this field of innovation. In the world, many people do not have access to banking services. I hope that the US will become a pioneer in this area, even if innovations come from companies such as Facebook, ”said Armstrong.

Note that the Coinbase exchange remains a member of the Libra Association and does not intend to leave the consortium like Visa, Mastercard and other companies.

Late last year, Coinbase completed another round of funding, during which the company received $300 million, bringing Coinbase's total market value to more than $8 billion.