Coinbase refutes claims that it has tested the own trade

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  • The article of Wall Street Journal seems to be confused with "customer -oriented activities" with personal trade, said Coinbase in a blog post
  • The crypto exchange says that it buys crypto "from time to time" for the corporate fund and operational purposes

Coinbase refuted reports that it would be operating in-house and claimed that his team had to strive for risk solutions to expand institutional crypto participation beyond keeping assets.

The Wall Street Journal reported on Thursday that Coinbase founded a group last year who tried to act with company money and act with cryptos to make profits. The publication in which "people who are close to the matter" reported that the crypto exchange had stopped at least four high-ranking Wall Street dealers for the unit.

The group closed a transaction of $ 100 million at the beginning of this year, which it viewed as a test business, but ultimately decided against own trade, according to Wall Street Journal.

Coinbase does not operate its own business and do not act as a market maker, shared the crypto exchange with Blog post from Thursday and added that the article "Customer -controlled activities" would be confused with personal trade.

Eigenhandel is available when a bank or other institution acts stocks, bonds or other financial instruments on your own account - with your own capital and not with customer money.

"Coinbase buys cryptocurrencies as a client from time to time, also for our corporate fund and operational purposes," wrote the company.

"We do not consider this to be self -trade, since its purpose does not exist that Coinbase benefits from short -term increases in value of the traded cryptocurrency," says the blog post.

Coinbase currently holds about 4,500 bitcoins, according to BitcoinTreasuries .

A spokesman refused to comment beyond the blog post.

Coinbase has formed a team for risk solutions to help institutional investors participate in web3 beyond keeping crypto systems, added the company in the blog.

"We follow a leaked path on Wall Street, where financial services companies offer their customers several options for gaining access to new investment classes and managing certain risks," wrote Coinbase. "We have tools and guidelines that reflect best practice in the financial services industry and are designed to cope with conflicts of interest."

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The article Coinbase refutes claims that it has tested self -trade.