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Brian Armstrong announced this on twitter:
And COINBASE added an article about it:
For us $500M seems a lot (and it is), but for Coinbase it is not much.
Keep in mind that in Q2 Coinbase brought over $2 Billion in Revenue! YES 2 BILLION IN REVENUE!
ONLY IN Q2 of this year!
And their the monthly transacting users went up by 44%!
Coinbase and Coinbase Pro are in a very aggressive campaign to add the most crypto possible and by doing this they are making a ton of money.
This announcement is great anyway, it is just a great news!
WHY?
Because it is clear they are 100% involved in the crypto world and they believe in it.
10% of all profit going in crypto is just music for our ears.
It would be great to invest a higher percentage but at the end of the day they are still a company (listed on the exchange market) and they need to be profitable in USD as well, so I understand the move.
The real question is:
IN WHAT WILL THEY INVEST?
In the article published on the Coinbase blog they mention:
This means we will become the first publicly traded company to hold Ethereum, Proof of Stake assets, DeFi tokens, and many other crypto assets supported for trading on our platform, in addition to Bitcoin, on our balance sheet.
In the Coinbase Venture Portfolio they have:
And more (SNX, FLOW, AUDIO, AR, CELO, UMA, MINA, RSR, DODO, KEEP, RAD, RLY, RARI, SFI, EDG, EDG, NAOS, SMC, UDT, INST, CUNI, REL, RSV, IMX).
So they will probably invest some more in these projects and probably others.
So this is just a big, huge and great news!
I am waiting for Coinbase to add LUNA because LUNA is a very hot token right now and they already have it in their portfolio.
Recently they added USDT, so hopefully LUNA will be one of the next token to be added.
Remember:
Don't FOMO now, but keep an eye on LUNA and if you see a good buying opportunity you know what to do!
PS: I’m not a financial advisor, never invest all your money in crypto, to have a stop loss is very important!
DO YOUR OWN RESEARCH before investing your money.
