Coinbase attracts a $20 billion hedge fund

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4 months ago
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According to Business Insider, Coinbase Prime, a service for institutional investors, has attracted the first hedge fund with assets worth $20 billion. The Coinbase team is also working to attract other large hedge funds to its platform.

Business Insider also reported that Coinbase plans to create a service for prime brokerage on Wall Street, which would help institutional investors carry out cryptocurrency transactions. The prime brokerage service provides hedge funds with a wide range of operational services, thereby helping companies to focus exclusively on the investment strategies.

According to BCFocus, it is not yet known whether the SEC will interfere with the activities of Coinbase Prime.