Coinbase is spending half a billion dollars of its own money on cryptocurrency

Coinbase is spending half a billion dollars of its own money on cryptocurrency

Coinbase said it would buy $500 million in cryptocurrency and invest 10% of all future profits in digital assets, according to a Thursday blog post.

The cryptocurrency exchange platform said it will soon be the first publicly traded company to hold Ethereum, proof of stake assets, DeFi tokens, and other cryptoassets, in addition to Bitcoin, on its balance sheet.