Home Coinbase Coinbase CEO Says Firm Holds 2 Million Bitcoin, Reminds Folks Agency's 'Financials Are Public' – Bitcoin Information – Bitcoin Information

Coinbase CEO Says Firm Holds 2 Million Bitcoin, Reminds Folks Agency's 'Financials Are Public' – Bitcoin Information – Bitcoin Information

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In keeping with Coinbase CEO Brian Armstrong, as of Sept. 30, 2022, the corporate holds 2 million bitcoin value $39.9 billion. The information Armstrong shared comes at a time when most of the people is wanting straight at change balances following FTX’s turbulent collapse.

Coinbase Co-Founder Shares Firm’s Q3 Shareholder Letter — Says as of Sept. 30, Agency Holds 2 Million Bitcoin

Two days in the past, Bitcoin.com Information reported on Binance’s change reserves and on the time the buying and selling platform had near 600,000 bitcoin, in accordance with cryptoquant.com metrics. As of Nov. 20, 2022, cryptoquant.com stats point out that Binance holds roughly 584K bitcoin. On the identical day, data shows that Coinbase Professional, in any other case often known as Coinbase Alternate, holds roughly 532K bitcoin.

Moreover, our newsdesk additionally reported on Grayscale discussing its stability sheet, because the fund supervisor famous that “all digital belongings that underlie Grayscale’s digital asset merchandise are saved beneath the custody of Coinbase Custody Belief Firm.” Between Coinbase’s completely different providers, just like the change and custody options, the publicly-listed firm holds a substantial amount of bitcoin (BTC).

On Nov. 22, 2022, Coinbase (Nasdaq: COIN) co-founder and CEO Brian Armstrong tweeted in regards to the agency’s BTC stash with the intention to dispel any ‘worry, uncertainty, and doubt’ (FUD). “In case you see FUD on the market – keep in mind, our financials are public (we’re a public firm),” Armstrong said on Tuesday. “We maintain ~2M BTC. ~$39.9B value as of 9/30.” The Coinbase co-founder added:

All of us want to come back collectively to construct this trade in a accountable means going ahead. Be cautious of false data.

Armstrong additional shared the corporate’s shareholder letter, which highlights a consolidated listing of Coinbase belongings. The Coinbase CEO’s statements on Twitter comply with the conversations regarding proof-of-reserves and monetary audits.

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

The proof-of-reserves matter has gained traction and a handful of exchanges have announced upcoming proof-of-reserve audits. For example, on Nov. 21, 2022, Bitstamp detailed that the corporate has been audited since 2016.

“Bitstamp Group and our authorized entities have been audited by a giant 4 world accounting agency on an annual foundation since 2016,” Bitstamp stated on Monday. “They are going to be releasing our proof of reserves audit and the corresponding proof of liabilities. These will present our clients with an independently performed verification of their Bitstamp balances, and the reassurance that Bitstamp has the belongings to cowl them absolutely.”

Whereas Coinbase International shares are down 82% year-to-date, COIN shares gained 5.24% simply earlier than the closing bell on Wall Avenue on Nov. 22. COIN shares are at present buying and selling for $43.39 per share on Tuesday afternoon (ET). “The transparency and fast response is way wanted and appreciated atm,” one particular person replied to Armstrong’s tweet about Coinbase’s bitcoin holdings on Tuesday.

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Binance, Bitcoin, Bitcoin (BTC), BitStamp, BTC, Coinbase, coinbase bitcoin, Coinbase Brian Armstrong, Coinbase CEO, Coinbase co-founder, coinbase custody, Coinbase Custody Trust Company, Coinbase Pro, cryptoquant.com, Exchange Reserves, grayscale, Proof of Reserves, Stats

What do you concentrate on the Coinbase CEO explaining that as of September the agency held 2 million bitcoin value $39.9 billion? Tell us what you concentrate on this topic within the feedback part under.

Jamie Redman

Jamie Redman is the Information Lead at Bitcoin.com Information and a monetary tech journalist residing in Florida. Redman has been an energetic member of the cryptocurrency group since 2011. He has a ardour for Bitcoin, open-source code, and decentralized purposes. Since September 2015, Redman has written greater than 6,000 articles for Bitcoin.com Information in regards to the disruptive protocols rising at the moment.

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