Coinbase promises to add more cryptocurrency transactions faster

Coinbase CEO Brian Armstrong said that cryptocurrency exchanges will offer Dogecoin trading in six to eight weeks as the company warns that it faces increasing competition from other trading venues. .

Armstrong made the above comments on Coinbase since Coinbase’s first earnings conference call Direct listing In April, this made it the first large public cryptocurrency exchange in the United States.

Coinbase reported that net income in the first three months of this year was US$771 million, and total revenue was US$1.8 billion, more than three times the amount in the previous quarter. This is due to the increasing popularity of Bitcoin and other digital assets. Soaring. This figure is in line with the estimate provided by Coinbase in April.

Cryptocurrency traders urge Coinbase to allow transactions Dogecoin, This is just a joke, but it has soared to a market value of $55 billion in the recent crazy period.

Last weekend, when Tesla CEO Elon Musk mentioned Dogecoin multiple times on Twitter, the cryptocurrency became the focus of public attention, and he quoted it again in the TV show it. Saturday night live -Although he admitted that the token is “busy”.

Analysts said that Coinbase is slower to add cryptocurrencies to its platform than some offshore competitors. Regulatory issues.

Coinbase said in a letter to shareholders that its competitors are “supporting certain crypto assets that are experiencing large transaction volumes and market value growth that we currently do not support.”

“There is no doubt that we need to speed up the process of reviewing assets and adding them to the site,” Armstrong said. “We will enter so many worlds quickly, and unless we speed up this process, we will not be able to keep up with this step.”

Coinbase said that its latest transaction volume has kept pace with the record level in the first quarter. The company recorded more than $1.5 billion in transaction revenue in the first quarter, mainly from retail customers.

Coinbase’s stock price has fallen 38% from its first trading day high, giving the company a market value of $52.8 billion at the end of Thursday.

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