U.S. Bitcoin exchange Coinbase has reached 10 million registered users and $20 billion in trading volume.
The San Francisco startup has seen a huge growth in 2017, adding thousands of users per day and handling increasing levels of trading volume. Last month, CEO Brian Armstrong announced that the company had raised $100 million during its latest funding round, giving the company a valuation of $1 billion.
Now, Coinbase has surpassed 10 million registered users. In the last three weeks of August, the bitcoin exchange added an astonishing 800,000 users as the bitcoin price soared close to $5,000. According to data from the Coinbase website, the exchange and wallet service has also recently surpassed $20 billion in total volume. Commenting on the company’s achievement, social media users stated that the community needs “more exchanges that offer what…Coinbase has.”
Coinbase faced several challenges as it marched toward this impressive goal. Throughout the year, it has been embroiled in a legal dispute with the U.S. Internal Revenue Service (IRS) over whether it should have to release personal client information to the agency. Thus, the company pledged to devote Q3 to focusing on operational excellence, scaling, and an improved customer experience.
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