Fun

Coinbase Aims to Be the ‘Amazon’ of Crypto, CEO Says Exchange Wants to List All Legal Crypto Assets

News Feed - 2021-08-14 02:08:17

Coinbase Aims to Be the "Amazon" of Crypto, CEO Says Exchange Wants to List All Legal Crypto Assets


The Nasdaq-listed cryptocurrency exchange Coinbase says that it wants to be “the Amazon of assets” and list every legal crypto asset out there. The company has outlined two major long-term trends affecting its business. Coinbase Wants to List All Legal Cryptocurrencies


Coinbase revealed its plan during the Q2 2021 earnings call Tuesday. CEO Brian Armstrong explained: “We at Coinbase always think about longer-term cycles of crypto … We’re always looking at the long-term trends.” He described two key trends affecting Coinbase.


“The first one is that we’re continuing to see this trend of people using crypto for more and more things beyond trading,” Armstrong detailed. He added that “For example, we now have 1.7 million users doing staking in crypto, which is a way to earn a yield on your assets.”


The CEO continued, “The second big trend we’re seeing is this idea of Coinbase embracing decentralization,” elaborating: We want to be the Amazon of assets, list every asset out there in crypto that’s legal. There are thousands of them today. There are eventually going to be millions of them. This is all under the theme of embracing decentralization.


Armstrong emphasized: “We have a very rigorous process we’ve created on the compliance and the legal and cybersecurity evaluation of these assets to make sure they comply with those standards, but once we get comfortable with that, we want to list various assets that meet those listing criteria.”


He further noted: “Bitcoin and ethereum still make up about 50% of our trading volume and the other 50% is the long tail of all the other assets that we support. No single one of those long-tail assets accounts for more than 10% of our trading volume so it’s really starting to become quite a diverse set of assets out there.”


The Coinbase executive mentioned that in the second quarter, his platform listed 22 new coins, including dogecoin (DOGE). He opined: Our overall approach is we’re agnostic about which assets are going to win, we really just want to support every asset that’s legal for our customers.


In Q2, the company raked in $2 billion and formed partnerships with notable people and companies including Elon Musk, Spacex, and PNC Bank. At the end of June, the company said it wanted to launch an Apple-like app store for cryptocurrencies.


What do you think about Coinbase’s plan to become the Amazon of crypto? Let us know in the comments section below. Binance Discontinues Crypto Products and Services in South Korea EXCHANGES | 10 hours ago Binance US CEO Steps Down as the Crypto Exchange Faces Rising Regulatory Scrutiny EXCHANGES | Aug 6, 2021 Tags in this story amazon of assets, amazon of crypto, Brian Armstrong, Coinbase, coinbase agnostic, coinbase amazon, coinbase doge, coinbase dogecoin, Coinbase Listing, crypto assets


Image Credits: Shutterstock, Pixabay, Wiki Commons Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments

News Feed

A Mysterious Dogecoin Address Absorbed 27% of the Supply, the Top 20 Addresses Captured 50%
A Mysterious Dogecoin Address Absorbed 27% of the Supply, the Top 20 Addresses Captured 50% Just recently, the crypto asset dogecoin has seen some significant pr
Fireblocks adds Coinbase International for perpetual futures, spot trading
Ana Paula Pereira7 hours agoFireblocks adds Coinbase International for perpetual futures, spot tradingThe new capabilities will be available only to users from “eligible jurisdictions” outside the United States.2274
Marcel Pechman3 hours ago3 reasons why Bitcoin’s price is primed to hold the $30,000 level as supportBitcoin’s price has been showing weakness near the $30,000 level, but multiple data points highlight the fact that
Shiba Inu Soars: Analyst Predicts 71% Rally In ‘Meme Super Cycle’ – Details
Este artículo también está disponible en español. Rising as one of the best-performing meme coins, Shiba Inu (SHIB) keeps making headlines in the crypto scene. The meme c
Bitcoin ETF race gets 13th entrant, BlackRock revises ETF model
Jesse Coghlan8 hours agoBitcoin ETF race gets 13th entrant, BlackRock revises ETF modelPando’s ETF bid comes as several spot Bitcoin ETF applications draw closer to a final decision deadline.6952 Total views32 Total sh
Top Finiko Crypto Pyramid Executive Arrested in Russia’s Tatarstan
Top Finiko Crypto Pyramid Executive Arrested in Russia’s Tatarstan A high-ranking representative of Russia’s notorious Finiko Ponzi scheme has been arrested in Tatarstan.
China Wants Communist Party Members to Pledge Loyalty on Blockchain
China’s Communist Party (CPC) is taking its leader’s support for blockchain to heart. Following Xi Jinping’s bombshell speech last week urging his countrymen to &#
Veteran Analyst Predicts Bitcoin Surge To $150K — Here’s The Timeline
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Former Ethereum Developer Virgil Griffith Arrested for Signing Into His Coinbase Account: Report
Former Ethereum Developer Virgil Griffith Arrested for Signing Into His Coinbase Account: Report According to reports stemming from investigative journalist Matt
Trump’s Bitcoin sneakers are already on eBay for $2,500
Tom Mitchelhill7 hours agoTrump’s Bitcoin sneakers are already on eBay for $2,500Scalpers are already trying to sell Donald Trump’s just-released limited edition Bitcoin-themed sneakers on eBay for $2,500.3520 Total
J.W. Verret7 hours agoBinance’s DOJ settlement offers a glimmer of hope for the crypto industryChangpeng Zhao is out at Binance, but his company lives on. That suggests tacit affirmation from the Biden administration o
Serbian National Arrested and Extradited to the US for His Role in a $70M Crypto Mining Case
Serbian National Arrested and Extradited to the US for His Role in a $70M Crypto Mining Case A Serbian national has been extradited to the United States to face