Coinbase went live and saw a huge leap.

Coinbase went live and saw a huge leap.
Coinbase went live and saw a huge leap.

Coinbase goes live and saw a huge leap. So this is what the crypto market is doing. The crypto currency of Coinbase was founded in 2012 by Brian Armstrong and Fred Ersham. Brian is currently the CEO of Coinbase. The crypto currency has been awaited for long now and they finally made it to the charts. Their initial public offering was supposed to be $250 per share but it started even higher at $381 per share. Coinbase has seen a great appreciation of about 11% few minutes after going live. The crypto community is excited and analysts say that it will open way for mainstream crypto trading.

Brian Armstrong was applauded by numerous crypto giants. He received words of encouragement from Binance CEO and Binance itself. Brian also received widespread acknowledgements from analysts.

Fred Ersham who is also co-founder of the company has tweeted about how far they’ve come.

In a recent video from Coinbase’s YouTube channel Brian Armstrong talks about their journey. He expanded more on how hard it was to find a co-founder. So he had to work on the coin alone for a while. However, after he put out a prototype of the coin on reddit that Fred Ersham reached out to him. In the interview, Fred explained how he got obsessed with bitcoin after reading about it from a blog. However, this obsession was to finally realign with his impression of Brian’s idea on reddit.

Brian Becomes the world’s 73rd richest man

Brian Amrmstrong
NEW YORK, NY – MAY 15: Coinbase Founder and CEO Brian Armstrong attends Consensus 2019 at the Hilton Midtown on May 15, 2019 in New York City. (Photo by Steven Ferdman/Getty Images)

Furthermore, Brian’s Initial Public Offering of Coinbase went extremely well. Such that his shares became valued at $20B in a few hours. This was the fastest anyone’s ever leaped in net worth. Warren Buffett doesn’t even fall close. In fact this took Brian t the top 100 list of the worlds richest people. He was valued at #3 in the world after Coinbase went public.[1]

The volume of Coinbase currently is about $365 billion and the coin has about 35 million active users. According to CNN Business he had 40 million shares in the company. Which is 20% of the company’s shares. Which after the IPO became about $20B according to current value of $420 per share. However, Armstrong seems to be a low profiled person and did not immediately tweet about it. In a later interview with CNBC he revealed that regulation is the biggest threat to crypto currency and raised concerns. As a result, Brian asked for their company to be treated like any other crypto currency. So that there are no unfair taxations and monitoring just because they went public.

Precautionary information on investments

It would be a good idea to study more on Coinbase and what it is all about. It will only grow and investors are keen to investing.  Visit coinbase.com for more information on this new crypto. Crypto currency is a new field of investment with a lot of gray areas for the public. Most people say it is a scam because of either fraudulent investment companies or their lack of knowledge in the field. For whatever reason, we hope to educate the public about this and help them make more informed decisions from a point of understanding. The investment world is risky and knowledge is crucial of a tool in that universe.

Note: This is in no way investment advice and we at ABAT can’t be held responsible for any investments taken from the information we share. We share information as experts share it and as it is reported. It is important to be fully informed of the financial risks associated with trading stocks, crypto and currencies. Hence we suggest that you gain more knowledge about the trading/investment universe before investing to make better more informed investments decisions.

Duncan Edwards

I am an internet entrepreneur sharing information with the world to further educate it. I cover topics such as business, technology, science, celebrity gossips, biographies and trending stories in general.

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