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Bitcoin Exchange Coinbase wins $ 20 billion in hedge fund clients and can again run ads on Facebook

Bitcoin Exchange Coinbase wins $ 20 billion in hedge fund clients and can again run ads on Facebook
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Coinbase is one of the world's largest crypto exchanges based in San Francisco. In addition to the ever-increasing corporate value, Coinbase now has more positive news to report. The crypto-market has reportedly attracted a $ 20 billion prime customer. In addition, the crypto exchange can now also run ads on Facebook.

Hedge Funds with $ 20 Billion in Investment Capital

Coinbase has recently focused on major institutional clients. That's how the Coinbase escrow service was introduced this month. At the beginning of the year, Coinbase Prime had already released a tool suite aimed specifically at institutional investors. At the same time, a service based in New York was set up to offer these customers a special service. Apparently, these efforts are bearing fruit now.

Business Insider, referring to “people familiar with the matter,” referred to a large investor. It should be a hedge fund with a capital of 20 billion USD. He has already registered for Prime Business, it said. The Coinbase Prime team is also in the process of persuading other major hedge funds to trade via Coinbase. The lack of prime brokerage is considered one of the main hurdles for institutional investors entering the crypto trade. In general, these big investors are not willing to take risks by trading directly with a stock market. Coinbase may have solved this problem by creating your own prime service. These options are usually available on Wall Street usually only large banks. According to other reports, the company also plans to offer margin financing by the end of the year. This is what institutional investors could do with borrowed capital and leverage.

Coinbase Bitcoin Ads again on Facebook

Coinbase also has good news in the consumer business. The point is that the crypto exchange may switch their ads back to Facebook. Coinbase CEO Brian Armstrong announced on social media:

“Facebook banned crypto advertising earlier this year. I am proud to report that we are now on the white list and that we can get more people into an open financial system. “

In January 2018, Facebook banned all advertising for cryptocurrencies. However, in June they had changed the rules there and allowed since then advertising content of “previously approved advertisers”. Given its position in the US market and the amount of money it's possible to invest in legal exams, it's no surprise that Coinbase made it to the list of eligible advertisers.

Bitcoin Exchange Coinbase wins $ 20 billion in hedge fund clients and can again run ads on Facebook

Source: Business Insider, Twitter, Facebook, Pixabay

Author: Peter Joost – Source Post: https://www.kryptovergleich.org/bitcoin-boerse-coinbase-gewinnt-20-milliarden-usd-schweren-hedgefonds-kunden-und-kann-wich-anzeigen-auf-facebook- switch /

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