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2/17, 7:56 PM (Source: TeleTrader)
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Coinbase behind Tesla's $1.5B Bitcoin purchase - report

Coinbase, an American crypto exchange, was behind Tesla's $1.5 billion investment in Bitcoin earlier this month, The Block reported on Wednesday, citing sources close to the matter. Allegedly, Coinbase was able to perform the purchase without affecting the market routing the order to several over-the-counter trading desks.

It is also reported that Coinbase has at least five Fortune 500 companies among its corporate clientele and is looking into going public sometime this year.

Earlier Tesla, invested $1.5 billion in Bitcoin explaining that would help "diversify and maximize returns on cash that is not required to maintain adequate operating liquidity".

Breaking the News / LH