Global exchange Coinbase builds war chest to face regulatory challenges
by: Dynasty GI2021-08-23
Crypto exchange giant Coinbase has stockpiled over US$ 4 billion in preparation for a possible regulatory crackdown, according to its CFO, Alesia Haas.
In a Wall Street Journal interview, Haas said “we want to ensure 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”.
"Analysts believe the reserves can help Coinbase navigate potential regulatory hurdles as the head of the US Securities and Exchange Commission, Gary Gensler, warned that DeFi (decentralised finance) projects are not exempt from regulatory controls."
Coinbase facilitates a number of DeFi coins, including Uniswap, Sushi and Aave.
