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.”

We will continue to update Blocking; if you have any questions or suggestions, please contact us!

Share:

Was this article helpful?

93 out of 132 found this helpful

Discover more

Blockchain

Bitcoin options, the next battlefield of the exchange?

Since 2009, Bitcoin has been born for more than a decade. Bitcoin has gone through decades of financial development i...

Blockchain

Run, clear the sea? This question for the exchange is too difficult

Text | Qin Xiaofeng Production | Odaily Planet Daily The market turned cold, and the exchange changed from a once env...

Blockchain

A number of exchanges will openly call the FATF proposal at the G20 opening meeting

The G20 summit of the G20, which everyone is paying attention to, will be held on June 28 and 29, 2019 in Osaka, Japa...

Blockchain

Data tells you how the DEX ecosystem evolved in 2019

Decentralized exchanges (DEX) emerged in 2018 and have flourished in the past year. With DeFi disrupting the economic...

Blockchain

The cryptocurrency exchange "closed tide", running to catch up with P2P

The cryptocurrency exchange, once regarded as “stable and not paying”, is more crazy than other fields,...

Blockchain

Comment: The exchange is open finance

Foreword: In the current encryption world, exchanges are the biggest catchers of value. Because of the user's de...