Coinbase will be listing dogecoin in the next six to eight weeks, the company’s CEO has revealed. Interest in the meme cryptocurrency has spiked, touted by Tesla CEO Elon Musk, who calls himself the Dogefather.
- Coinbase CEO Brian Armstrong said during the company’s earnings call Thursday that his exchange will list dogecoin in the next six to eight weeks.
- In the company’s first earnings report since its direct listing on Nasdaq in April, Coinbase reported earnings of $3.05 per share and revenue of $1.80 billion, which was up from $585 million in the previous quarter. The company’s net profit for the quarter was over $771 million.
- The CFO of Coinbase, Alesia Haas, answered the question of whether investors should take dogecoin seriously in an interview with Jim Cramer on CNBC’s Mad Money Thursday. “We leave that to the decision of our users,” she replied, elaborating:
We want to offer all assets that meet our listing standards and we hope to be the place where you can come and trade anything that you want to trade.
- Haas admitted: “That is not the case today. We are slow. We need to add more assets. We’re making big investments to improve the speed of our asset addition, but clearly, the market is speaking.”
- The price of dogecoin has increased dramatically over the past months. Tesla CEO Elon Musk has been drawing attention to the meme cryptocurrency with his tweets and mentions on Saturday Night Live (SNL). During SNL, Musk played a financial expert who called himself the Dogefather and said the cryptocurrency was a hustle but also “the future of currency” that is “going to take over the world.” Musk then conducted a poll on Twitter about whether Tesla should accept dogecoin. 78.2% of the respondents voted yes.
- In March, Musk was asked on Twitter whether Coinbase should list dogecoin given that Coinbase was the company that helped Tesla buy its BTC worth $1.5 billion at the time of purchase. The Tesla CEO replied, “Yes.”
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