Coinbase, U.S market hub for cryptocurrencies is preparing to increase trading volume. Eric Schneiderman New York Attorney General is inspecting Coinbase. The firm announced some key company data. Coinbase claims to double the size of its full-time engineering staff and is modernizing much on the platform’s code.
Further, Coinbase states “These efforts and others have resulted in a 1000% increase in our surge, transaction capacity relative to Q3 of 2017,” Coinbase said in a public version of the letter published this week. “We expect to again double this capacity in coming months, all while maintaining the highest standard of security expected by our customers.”
Asiff Hirji’s comments
Asiff Hirji, Coinbase’s COO claims that serious requirement for cryptocurrency and the core process of blockchain technology made the effort successful.
Hirji asserts that “More people are starting to realize that this is foundational and you have the best and brightest in crypto running to build applications,” Hirji told CNBC. “If you believe that, it’s not surprising to see ever-increasing volumes and record transactions.”
Hirji says Coinbase is coming up with much institutional finance to enter the market, pointing to a New York Times report. The report states that Goldman Sachs is planning to start a Bitcoin trading desk.
In a statement, Coinbase says it is trading $150 billion in an asset on the platform. Coinbase has received more than $225 million in funding.
The firm has disclosed personnel numbers which state, it is hiring more than 300 full-time employees. The contractors are factored in a company that has 1,000 people working for Coinbase. Practically, 20 percent employees work in Compliance Company said.
The company has extended the demand for the purpose of trading cryptocurrency. Bitcoin is the largest cryptocurrency by market capitalization and elevated 1,300 percent last year. It is nearly high as $20,000 in December.
As the company expanded, some customers utilized websites like Reddit to complain about the sites blackouts and customer support.
Coinbase is enhancing the platform to function and operate in a smooth manner. The firm says “We are proud to have delivered 99.97% uptime to users of the platform in the period January 1 to present, and 99.99% uptime in the month of April”.
Coinbase has valued itself to around $8 billion which acquired from Earn.com. As per reports, the internally estimated amount is referred to $1.6 billion. Basically, Coinbase denied commenting on its earnings and assessments.
It’s quite interesting to know Coinbase on an amicable journey to enhance crypto trading. Share your opinion through Twitter and Telegram.
Image Source:- Coinbase