Coinbase tests its proprietary trading with a $100 million transaction

A report by the Wall Street Journal has it that earlier this year, cryptocurrency exchange Coinbase completed a $100 million transaction as a test of its proprietary trading efforts.

The report added Coinbase formed a group called Coinbase Risk Solutions to use its own cash to trade crypto.

Proprietary trading is when a firm engages in trading of stocks, bonds, currencies or commodities using its own money as opposed to that of its clients.

Coinbase executives denied the firm engaged in proprietary trading when they appeared in Congress last December.

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