Coinbase’s $500M Crypto Investment is a ‘Game’ to Attract Users, Sources Say

From blockworks.co

Coinbase, one of the largest cryptocurrency exchange platforms in the world, announced plans yesterday to change its investment policy and some sources said this initiative is sending a strong message to the market that crypto is here to stay, while others said that the company’s investment is a “game” to attract more users. Specifically, Coinbase announced it will buy $500 million in cash and cash equivalents to crypto in addition to allocating 10% of its quarterly net income into a diverse portfolio of crypto assets, the company’s Chief Financial Officer Alesia Haas said in a post. That same day, Coinbase ... (full story)