Coinbase Builds a $4 Billion Cash Pile To Weather Tighter Regulation, Crypto Risks
The cryptocurrency exchange plans to use its cash to expand and prepare for higher compliance costs, CFO says
A recent surge in trading, including among individual investors, has buoyed the profits of Coinbase Global Inc, the biggest US cryptocurrency exchange. (Photo: Reuters)
Coinbase Global Inc. in its first months as a public company has built a $4 billion cash stockpile as it benefits from a trading frenzy and prepares for closer regulatory scrutiny.
Coinbase has socked away cash in part to weather a host of business risks in the crypto industry, according to chief financial officer Alesia Haas.
The company stress-tests its balance sheet to ensure it has adequate…
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