On October 23, the co-founder and CEO of major the United States cryptocurrency exchange Brian Armstrong stated, Coinbase has generated close to $2 billion in transaction fees since the company launched back in 2012. Armstrong said that the company spends a significant part of its profits on the development of innovation and the development of new products.
Also, according to him, Coinbase has been profitable since 2017.
“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. I want Coinbase to be a company of repeatable innovation.” - he added.
In his view, the digital money will stabilize over time. When there is less speculation on the market, cryptocurrencies will be able to create a new economy that will take a share in the GDP of various countries, the head of the trading platform concluded.
Coinbase was able to obtain a license for operations with electronic money (E-money) from the central bank of Ireland. The company also in talks to buy the startup Omni Rentals, which in the past received investment from fintech company Ripple.