Coinbase has received transaction revenues of nearly $2 billion so far, and the company decided to support Libra.

At the Vanity Fair in Los Angeles today, Brian Armstrong, co-founder and CEO of Coinbase, a US cryptocurrency trading group, confirmed that the exchange has been profitable since 2017. In addition, he also revealed that since its launch in 2012, Coinbase Created nearly $2 billion in transaction fee income.

On the stage of the summit, Armstrong also solemnly promised:

“We will put most of this profit into our business to create new products. […] I hope Coinbase is a repeatable innovation company.”

Brian Armstrong

(Photo: Coinbase CEO Brian Armstrong)

It is reported that Coinbase's valuation in the last round of financing has reached 8 billion US dollars.

Calling on US legislators to embrace Libra

It is reported that Coinbase is one of the remaining 21 founding members of the Libra Association. Recently, Libra has lost seven well-known founding members, including Visa, eBay and Mastercard.

These members received an open letter from the US senator before they announced their departure from the Libra Association. After US Senators Brian Schatz and Sherrod Brown wrote to force the payment giant to leave the Libra Association, Armstrong commented:

"It made people feel very unfeshalling. The two senators wrote to visa, mastercard and stripe and asked them to leave Libra."

In addition to Tucao, Armstrong also hopes that regulators can open the door to innovation, saying:

“I very much hope that the United States will embrace this innovative field. There are many people in the world who do not have bank accounts, even if this innovation is from a company like Facebook that may not be satisfactory.”