Ken Chigbo
Independent Analyst
- The cryptocurrency exchange Coinbase, is reported to have some $ 7 billion worth of Bitcoin in its custody.
- It was reported that many users trust the exchange given its extensive measures of security.
Data has been gathered and shared by crypto portfolio monitor BitUniverse, finding that Coinbase has a large holding of Bitcoin within its custody.
As per its reports, they detail that Coinbase has a nine hundred and sixty-six thousand two hundred and thirty Bitcoin, which is worth well over seven billion US dollars ($7 billion), in its custody.
It was also suggested that many users are comfortable with Coinbase, due to its extensive security measures. Besides safeguarding user funds with insurance and conforming to various laws and regulatory standards set by the US financial regulatory system, it goes to great lengths to incorporate multiple layers of security filters to ward off potential cyber-attacks.
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