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12.10 - 14:32
Coinbase tested group to speculate on crypto
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livemint.comCoinbase Global Inc. has been searching for new ways to make money.
One business it flirted with was controversial: using its own money to speculate on cryptocurrencies. Last year, Coinbase—which operates a large cryptocurrency exchange that handles bitcoin and other digital coins—hired at least four senior Wall Street traders and launched a group to generate profit, in part, by using the company’s cash to trade and “stake," or lock up, cryptocurrencies, according to people close to the matter.
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