The US cryptocurrency exchange has generated about $2B in fees over the past seven years, company co-founder and CEO Brian Armstrong told Vanity Fair.
According to him, tech has always been the company's focus, and this is why it is profitable.
Armstrong has highlighted it considers the company as an anti-unicorn (unicorns are companies with a valuation of over $1B), and has said:
"Most of these profits we're plowing back into the business to create new products. I sort of think of us as the anti-unicorn unicorn."
He added he did not understand the reaction of US regulators to Libra, as, according to him, the country should embrace this field of innovation.
Coinbase reached a valuation of $8B after its last funding round, in which it received funds from several investors, including Andreessen Horowitz, Y Combinator and Polychain Capital.
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