Coinbase’s Brian Armstrong just made an important announcement on his social media account. Check it out below.
We recently received board approval to purchase over $500M of crypto on our balance sheet to add to our existing holdings. And we’ll be investing 10% of all profit going forward in crypto. I expect this percentage to keep growing over time as the cryptoeconomy matures.
— Brian Armstrong (@brian_armstrong) August 19, 2021
The crypto space has been boosting digital assets mass adoption for a while now, and things continue to go great.
This has been one of the most important goals so far, and the sentiment in the crypto markets is also great.
Coinbase latest news
Not too long ago, it’s been reported that according to a relevant source, PNC, which is the fifth-largest bank in the US, is planning to offer crypto investment services to its clients.
Coinbase said the other day that it’s working with PNC Bank on a previously undisclosed crypto project.
“In recent months, we have formed partnerships with industry leaders including Elon Musk, PNC Bank, SpaceX, Tesla, Third Point LLC, and WisdomTree Investments.”
Coinbase did not elaborate more on the subject.
The same online publication mentioned above noted that a source had previously told CoinDesk that the PNC Bank is expected to unveil a crypto jawn in the coming quarters.
They also made sure to point out the fact that PNC is the latest mainstream megabank to check out digital assets.
More than that, it’s important to note the fact that it is probably largest to do so with Coinbase, the industry’s biggest name.
PNC is already getting ready for a more crypto-centric future and months ago began hunting for a hire to lead its innovation push.
Stay tuned for more news, and make sure to keep your eyes peeled on the crypto market.