Coinbase will buy $500M in crypto and invest 10% of all future profits in digital assets

Cointelegraph

Published Aug 19, 2021 11:37PM ET

Updated Aug 21, 2021 12:40AM ET

Leading United States exchange by trade volume Coinbase (NASDAQ:COIN) has revealed plans to add half a billion dollars worth of crypto to its balance sheet.

Coinbase CEO Brian Armstrong announced that the company’s board had approved the crypto spending spree in a Friday tweet, adding that Coinbase also plans to invest 10% of all profits generated into digital assets moving forward.

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