Coinbase wallets hold $ 90 billion in assets

On Friday, the American cryptocurrency service Coinbase revealed updated information about the amount in itsasset wallets.The information was published on the About Us page. According to updated data, over $ 90 billion is stored on the Coinbase platform. As recently as last week, the company announced $ 25 billion, but it remains unclear when this information was collected.

At the same time, Coinbase published a report forinstitutional clients for 2020, which once again confirmed the accuracy of the information as of December 31, 2020. The company notes that more than half of the stated amount comes from its cryptocurrency storage service Coinbase Custody. It also claims to have led "individual transactions in excess of $1 billion for some of the largest institutions in the world."

The report provides descriptions of the state of the marketBitcoin, Ethereum, DeFi, stablecoins and cryptocurrency regulation in 2020. Coinbase, along with Circle, is the issuer of the USD Coin (USDC) stablecoin.

“We see the main application of cryptodollarsefficient movement of funds between exchanges. In addition, we are seeing an increase in private funding, such as venture capital investments in startups and new cryptoassets, carried out with the help of USDC by more advanced investors. Finally, we are seeing an increase in the number of cryptocurrency users using cryptodollars to interact with DeFi protocols, ”the company adds.

Coinbase has posted an update inahead of the expected IPO. At the same time, Coinbase notified shareholders of its intention to open a secondary market for its privately placed shares on the Nasdaq Private Market.

“On Monday, January 25, you will receive an emaila letter from Nasdaq Private Market detailing how to access the market, what stocks are available for trading and how the market will function, ”the company explained.

Thanks to this, current and former employeesCoinbase will be able to sell the shares they owe. The Nasdaq Private Market offers pre-IPO services to companies, including "controlled liquidity programs for pre-IPO companies looking to raise secondary capital for shareholders and investors."

Coinbase previously reported that it helped conduct one of the largest transactions in the history of the cryptocurrency space of One River, which planned to raise up to $ 1 billion in Bitcoin and Ethereum.

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