Recently, Bitcoin trading platform San Francisco-based Coinbase - has announced new developments in its business plan, including a $ 20 billion investment fund and the reinstatement of the ads. Facebook.
An investment fund worth $ 20 billion
Coinbase has focused on a large amount of money this year, and launched a custodial service this month. At the beginning of the year, Coinbase Prime, a suite of tools designed specifically for organizations, along with a New York City-based insurance group was formed. At present, Coinbase Prime has achieved some success.
A $ 20 billion investment fund has been registered and other major hedge funds are being employed by the Coinbase Prime team to be able to participate in the transaction. The company is also planning to provide margin financing as early as the end of the year, allowing investors to trade on leverage to increase leverage.
In addition, another good news is that the post ads of Coinbase have been allowed back on Facebook.
CEO Coinbase - Brian Armstrong - saying:
"Facebook forbids advertising for crypto earlier this year. At this point in time, we are proud to share that we have been whitelisted and are introducing more people to an open financial system. "
After banning all crypto ads in January, Facebook updated its policy in June to allow ads from "pre-approved advertisers." With his position in the US market and the amount of money that can be spent on lawyers, Coinbase has been added to the list.