Coinbase has $4.4 billion in cash on hand in case of a ‘Crypto Winter'

According to a story from The Wall Street Journal, Coinbase has built a $4.4 billion cash reserve to guarantee that it can continue to expand despite possible business risks like as governmental crackdowns, cyberattacks, and a drop in trade activity.

- Coinbase's chief financial officer, Alesia Haas, told the publication that the exchange has cash reserves so that it can continue to invest and grow even if a "crypto winter" occurs.

- Coinbase's cash reserves at the end of June were $4.36 billion, up from $1.1 billion at the end of previous year.

- “We want to make sure that we have those financial reserves so that we can continue to invest and develop our goods and services in the case of a crypto winter,” Haas said.

- Coinbase, which derives almost all of its income and earnings from its relatively high trading fees, has benefited from the recent increase in cryptocurrency trading. Coinbase recorded a net income of $1.6 billion for the second quarter last week, compared to $32 million in the same time last year.

- The stockpile, Haas told the Wall Street Journal, might be utilized for purchases. Coinbase has just acquired data analytics platform Skew, investment visualization company Zabo, and blockchain infrastructure provider Bison Trails.

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