As major crypto exchanges are stepping up their efforts to assure customers and investors of their stability, Brian Armstrong, the CEO of Coinbase, has revealed that his company holds crypto reserves that include about 2 million BTC worth about $39.9 billion.
“We hold ~2M BTC. ~$39.9B worth as of 9/30,” the CEO tweeted, referring to the company’s published financial results for the third quarter of this year.
“We all need to come together to continue to build this industry in a responsible way. Be careful of misinformation,” Armstrong said.
Coinbase’s transaction revenue decreased 44% quarter-on-quarter to $366 million. However, on an optimistic note, subscription and services revenue increased 43% quarter-over-quarter to $211 million, driven by higher interest income. Net revenue in Q3 was $576 million, down 28% from Q2,” the letter said.