Under pressure from rumors about the actual number of BTC held in their digital vaults, the Coinbase CEO Brian Armstrongon Twitter for him The company owns about 2 million BTCabout $40 billion in Bitcoin.
Brian Armstrong warns many The rumors that are currently stirring up the cryptocurrency sector distance bankruptcy Recent news from giant FTX which is putting many other crypto companies in trouble.
Coinbase CEO who also has to deal with Coinbase stock volatility which has reached its lowest level ever Counterinsurgency course It has already fallen to the $40 level.
If you see FUD around you – remember our finances are public (we are a public company) https://s27.q4cdn.com/397450999/files/doc_financials/2022/q3/Q32022-Shareholder-Letter.pdf.
We have about 2 million BTC. ~$39.9 billion as of 9/30 (see our 10th quarter)
We all need to work together to responsibly build this industry in the future. Beware of misinformation. »
We hold ~2M BTC. ~$39.9 billion as of 9/30 (refer to 10Q) pic.twitter.com/TFINAgOSeZ
—Brian Armstrong (@brian_armstrong) November 22, 2022
While various crypto exchanges such as binance Or Kucoin has posted files Proof of reservations In Bitcoin and cryptocurrency, Coinbase intends to silence the rumors around it by publishing these financial documents indicating that the US cryptocurrency exchange actually owns around 2 million BTC.
Some skeptics, including the CEO of Binance, have questioned recent statements from Coinbase. Brian Armstrong hopes to clear things up in order to reassure his clients and the entire crypto community who fear another major player in the sector going bankrupt.
greyscale And the origin It is the last company in the sector whose financial health remains in doubt.
Genesis is really looking for itBillion dollar In order to avoid bankruptcy, the cryptocurrency lending platform will not be able to rely on the help of giant Binance which raises potential conflicts of interest with Genesis business model, click here To read our article.
As for the Grayscale Bitcoin Trust, it has to deal with rumors about its BTC assets. As we mentioned in a Article Previously, Coinbase confirmed that it actually holds 635,000 BTC on behalf of Grayscale.
After the fall of the FTX empire revealed Tricks which were taking place within the cryptocurrency exchange she previously operated Sam Bankman FriedThere is now a race for transparency among cryptocurrency exchanges in this sector.
CoinMarketCap has also implemented a “Proof of Reserves” feature for cryptocurrency exchanges that provide this data, click here To read our article.
If Coinbase doesn’t publish “Proof of Reserves” on the blockchain, then its CEO states that Coinbase is a regulated, publicly traded company, and therefore its audited accounts are public.
Which unfortunately does not provide real time data regarding the crypto assets that are actually held by the cryptocurrency exchange.
In the face of all these moves dealing with the cryptocurrency market, the Bitcoin price is still not confirmed and it is currently around $16,530And the click here To follow the BTC course live.