Intel enters in crypto space with Coinbase
According to reports, chip producer companies entered the crypto space. Intel bought 3000 COIN stocks of Coinbase exchange.
Intel corporation, which is a multinational company of the U.S, shows its inclination toward crypto. In the present time, the revenue of Intel corporation is around $80 billion and most of the big tech companies rely on the chipsets of Intel company.
Reportedly Intel bought a total of 3014 COIN of Coinbase. The value of 1 COIN is equal to around $261. The company bought 3014 COIN, so they own around $786,254 worth of COIN stock assets.
Here people should not get into confusion that COIN is not a crypto asset. COIN is a stock asset of Coinbase. Coinbase has been in public since April 2021. Coinbase crypto exchange is listed on Nasdaq. The price of COIN stock was traded at around $400 with a total valuation of $100 billion. But in the present time it is traded at price $261 as per Friday data.
Many reports claimed that there are huge chances that Intel invests in Coinbase’s exchange before the listing on Nasdaq. Well here we should see this thing in a highly positive way because the movement of such companies for crypto companies gives better indications for the crypto market.
Related: U.S department bought Coinbase Forensics Software
Coinbase exchange seems to be doing their work at a very high level which is unexpected. At one side they have full support of the U.S government agencies and also Team of Coinbase supports the agency in many ways, so probably Coinbase Exchange is ready to prove their services top level genuine for the whole crypto Community and probably it will cross Binance Exchange in terms of trade volume soon.
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