Home Business Coinbase CEO Says Company Holds 2 Million Bitcoin, Reminds People Firm’s ‘Financials Are Public’ – Bitcoin News

Coinbase CEO Says Company Holds 2 Million Bitcoin, Reminds People Firm’s ‘Financials Are Public’ – Bitcoin News

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According to Coinbase CEO Brian Armstrong, as of September 30, 2022, the company has 2 million Bitcoins worth $39.9 billion. The news Armstrong shared came as the public took a first-hand look at exchange balances following the violent collapse of FTX.

Coinbase Co-Founder Shares Company’s Third Quarter Letter To Shareholders — Says Company Has 2 Million Bitcoins As Of Sept. 30

2 days ago, Bitcoin.com News report Binance had nearly 600,000 bitcoins on its trading platform at the time in exchange reserves, according to cryptoquant.com metrics. As of November 20, 2022, cryptoquant.com statistics It shows that Binance holds around 584K bitcoins. On the same day, data show Coinbase Pro, also known as Coinbase Exchange, holds about 532K bitcoins.

In addition, a news desk report About Grayscale discussing its balance sheet, as the fund manager said, “All digital assets underlying Grayscale’s digital asset products are held under the custody of Coinbase Custody Trust Company.” Among Coinbase’s various services, such as exchanges and custody his solutions, publicly traded companies hold large amounts of bitcoin (Bitcoin).

On November 22, 2022, Coinbase (Nasdaq: coin) co-founder and CEO Brian Armstrong tweeted about the company: Bitcoin Hide to dispel “Fear, Uncertainty and Doubt” (FUD). “If you see FUD, remember: our finances are public (we are a public company),” Armstrong said. Said on tuesday. “We hold about 2M BitcoinWorth $39.9 billion as of 9/30. Co-Founder of Coinbase Added:

We all need to come together to move this industry forward in a responsible way. Beware of false information.

Armstrong also added that the company’s shareholder letter, This highlights the consolidated list of Coinbase assets. Here is the Coinbase CEO’s statement on Twitter: conversation Concerning proof of reserves and financial audits.

Screenshot shared on Twitter by Coinbase CEO Brian Armstrong on November 22, 2022.

On the topic of Reservation Appointment gained traction and few exchanges have announced Future Proof of Booking Audit. For example, on November 21, 2022, Bitstamp detailed that the company has been audited since his 2016.

“Bitstamp Group and our legal entities have been audited by the world’s four largest accounting firms every year since 2016,” Bitstamp said on Monday. “They will be announcing a proof of reserve audit and a corresponding proof of liability. You get the assurance that you have it.”

Coinbase Global shares are down 82% year-to-date COIN stock COIN rose 5.24% just before its close on Wall Street on November 22nd. COIN shares are currently trading at $43.39 per share on Tuesday afternoon (ET). “Transparency and responsiveness are much needed and appreciated,” he said. answered To Armstrong’s tweet about Coinbase’s bitcoin holdings on Tuesday.

Tags for this story

binance, Bitcoin, Bitcoin (BTC), bit stamp, Bitcoin, coin base, coinbase bitcoin, Coinbase Brian Armstrong, Coinbase CEO, Co-Founder of Coinbase, coinbase storage, Coinbase Custody Trust Company, coinbase pro, cryptoquant.com, exchange reserve, grayscale, proof of reserve, statistics

What are your thoughts on Coinbase’s CEO explaining that he had 2 million bitcoins worth $39.9 billion as of September? Let us know what you think about this in the comments section below .

Jamie Redman

Jamie Redman is a news lead for Bitcoin.com News and a financial technology journalist based in Florida. Redman has been an active member of the cryptocurrency community since 2011. He is passionate about Bitcoin, open source code and decentralized applications. Since September 2015, Redman has written over 6,000 articles for Bitcoin.com News about disruptive protocols currently emerging.

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