Coinbase Will Invest 10% Of Its Profits In Crypto Going Forward

Coinbase has announced that it plans to invest 10% of all profits in crypto. The exchange is one of the leading crypto exchanges in the world and with their profit margins, 10% will be a big investment going into crypto. All crypto purchases with crypto will be kept on the balance sheet going forward. And the CEO expects this percentage to go up with time. Related Reading | Grayscale Tops Up Ethereum Investment To $10 Billion The exchange has recorded massive profits for the last year alone. Coinbase had announced a total profit of $.17 billion back in 2020. If this directive was in place then, Coinbase would have been putting $170 million in crypto holdings just for 2020 alone. Profit margins for 2021 are projected to be even larger for the year 2021. Given that the company had earlier gone public in the year. Increasing its total valuation. It has previously been disclosed back in February that the exchange held crypto on its balance sheets, which is not a surprise. Their foremost offering is a way for people to exchange their crypto for both fiat and other cryptocurrencies. According to Brett Tejpaul, a Coinbase executive, the company has actually held bitcoin and other cryptocurrencies on its balance sheet since its founding in 2012. With plans to continue investing in crypto projects that they see long-term potential in. Related Reading | Crypto Market Goes Into “Extreme Greed,” What This Means For Bitcoin At th...