The largest cryptocurrency exchange in the US, Coinbase, has publicly shared its investment campaign. According to Brett Tejpaul, Head of Institutional Sales, Trading, Custody and Prime Services at Coinbase, the exchange has held bitcoin (EXANTE: Bitcoin) and other cryptocurrencies on its balance sheet since its funding back in 2012.
Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.
"...we plan to maintain an investment in crypto assets as we believe strongly in the long-term potential of the cryptoeconomy," he added.
While Tejpaul did not disclose the amount of investment nor particulate assets, this is the first time such information has been disclosed by Coinbase. The report comes after Coinbase announced its application for an IPO has been approved by the US Securities and Exchange Commission (SEC). According to preliminary estimates, Coinbase being valued at an over $100 billion, based on trading of the exchange's privately held shares on a secondary market.
Earlier in January, Coinbase Ventures, an investment arm of Coinbase, invested in Titan, a developer of software and services for Bitcoin (EXANTE: Bitcoin) mining at scale, as part of its current seed fundraising round. The investment will reportedly help Titan to continue advancing its offerings "that allow Bitcoin mining companies achieve efficiency, profitability, and growth."
Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange.