Coinbase will buy $500M in crypto and invest 10% of all future profits in digital assets

Leading United States exchange by trade volume Coinbase has revealed plans to add half a billion dollars worth of crypto to its balance sheet. Coinbase CEO Brian Armstrong announced that the company’s board had approved the crypto spending spree in a Friday tweet, adding that Coinbase also plans to invest 10% of all profits generated into digital assets moving forward. Armstrong also indicated the company hopes to increase the percentage of profit it allocates to cryptocurrency purchases over time.