Fidelity Joins Crypto Firm Paradigm To Create New Crypto Trade Group
Last Updated: 08 April 2021
Fidelity Investments, Coinbase, and other U.S-based businesses have created a cryptocurrency trade group to shape the way Bitcoin and other cryptocurrencies are regulated.
The group, called the Crypto Council For Innovation, aims to ensure that policymakers understand the importance of cryptocurrency innovation to promote favorable industry regulations.
New Cryptocurrency Trade Group Unveiled
The council convened by crypto investor Paradigm also has payment solution provider Square as a member organization.
As stated in the announcement, the CCI would also educate the public on cryptocurrencies, appoint a board with representatives from each of its four initial members, and implement an executive team.
Coinbase and Square set to launch an initiative for crypto growth
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Bitcoin trade group launched; FDIC unveils program for unbanked
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4/7/2021 4:01:52 AM GMT
Coinbase has seen massive growth in its revenue in Q1 2021.
The surge in revenue and users were in part due to the growth of the price of cryptocurrencies.
The crypto exchange expects to see further growth in 2021, after its public listing on April 14.
Coinbase released its Q1 earnings report, along with the company’s expected future growth plans for new features and supported assets in 2021.
Coinbase expects more growth for the rest of 2021
Major cryptocurrency exchange Coinbase announced its Q1 earnings results, with a total revenue of roughly $1.8 billion, up from around $190 million in the first quarter of last year. The company’s net income for the quarter is estimated between $730 million to $800 million.