Coinbase Pushes A Move To Bring $10 Billion To Bitcoin And Crypto
Coinbase recently made headlines when it’s been revealed that the reports coming from the crypto exchange are looking great and more investors are coming to the crypto market.
The crypto exchange revealed that it seems that people are pouring their stimulus of $1,200 into Coinbase.
US Treasury Dept. is sending coronavirus stimulus payments to eligible US residents, but it seems that some of the recipients are sending the money straight to the crypto portfolio.
— Brian Armstrong (@brian_armstrong) April 16, 2020
Coinbase makes a massive move for crypto
It’s been revealed that Coinbase decided to hire Barclays exec Brett Tejpaul to head its institutional coverage group, which has been built to focus exclusively on the needs of institutional clients.
Institutional clients are vital for the crypto space, and their power can bring crypto mass adoption closer.
The new hire is highlighting the exchange’s efforts to make a massive push into the institutional market – Coinbase is targeting about $10 billion in big money that’s currently sitting on the sidelines.
The next phase of Coinbase’s institutional strategy
Via a new blog post, Coinbase’s chief operating officer Emilie Choi said that Tejpaul joins the leading crypto company as it focuses on better products and services targeting its institutional customers.
“A theme in Brett’s career has been building new kinds of businesses within traditional finance — a great fit for this particular role where he’ll be making connections between finance 1.0 and the cryptoeconomy…” according to the info coming from the blog post.
“Brett joins Coinbase at a time when we’ve never been better positioned to serve institutional and professional investors.”
You can read more about the issue in the original notes.
Other than this, the crypto market is looking great today, with Bitcoin priced above $7,000 and most digital assets trading in the green. BTC’s halving is on its way and this is expected to trigger massive price moves.
Brian Armstrong is the co-founder and CEO of Coinbase, one of the largest crypto exchanges in the world (its reported Coinbase holds 966,230 Bitcoin ($7B) in Cold Wallet). Prior to his involvement with the blockchain and Coinbase, Armstrong worked at Deloitte and Touche as an Enterprise Risk Management Consultant.
Coinbase is a digital currency exchange headquartered in San Francisco, California.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.