Coinbase chief executive Brian Armstrong said the cryptocurrency exchange would offer trading in dogecoin within six to eight weeks, as the company warned it faced rising competition from alternative trading venues.
Armstrong’s comments came during Coinbase’s first earnings call since the company’s direct listing in April, which made it the first major public cryptocurrency exchange in the US.
Coinbase reported net income of $771m on total revenues of $1.8bn in the first three months this year, an increase of more than three-fold from the previous quarter, as trading volumes soared with the growing popularity of bitcoin and other digital assets. The numbers fell in line with estimates Coinbase provided in April.
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