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Coinbase Builds $4 Billion Cash Pile Neglects Bitcoin
Bitcoin News now admin /

Coinbase has built a $4 billion hoard of cash in its first months as a public company, but its bitcoin holdings have not increased. The biggest U.S. cryptocurrency exchange seems to be mainly profit-driven; it has sought to push meme coins to its users while neglecting the transformative power Bitcoin can empower them with.

“We want to ensure that we maintain those cash reserves so that we can continue to invest and continue to grow our products and services in the event that we go into a crypto winter,” Coinbase CFO Alesia Haas told The Wall Street Journal.