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Coinbase Has Held Crypto Assets Like Bitcoin on Its Balance Sheet Since 2012
The disclosure comes as Coinbase is preparing for a public listing in the U.S.
Updated May 9, 2023, 3:16 a.m. Published Feb 25, 2021, 10:13 a.m.
Cryptocurrency exchange Coinbase revealed that it has held bitcoin and other crypto assets on its balance sheet since its founding in 2012.
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- According to a blog post Thursday, the company plans to maintain its crypto exposure and aims to use that experience to assist other companies that wish to do the same.
- The blog adds that Coinbase has executed "nine- and ten-figure trades" for some of the world's largest institutions.
- The news comes after major listed firms including Tesla and MicroStrategy have disclosed bitcoin treasury investments over recent months.
- The disclosure also comes as Coinbase, which facilitated Tesla's purchases, is preparing for a public listing in the U.S.
See also: How Coinbase Is Worth $100B
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Exodus joins stablecoin race with MoonPay-backed digital dollar
The public crypto wallet firm joins Circle and PayPal in issuing stablecoins.
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