From: Richard Kahn To: Jeffrey Epstein <[email protected]> Subject: Coinbase bets big on institutional investors Date: Tue, 15 May 2018 12:40:30 +0000 > Cryptocurrency exchange Coinbase is trying to lure big institutional investors into the volatile market Kate Rooney Coinbase cryptocurrency exchange application seen on the screen of an iPhone. Top U.S. cryptocurrency exchange Coinbase is focusing on a group that has been especially cautious to dive into the volatile market: Institutional investors. The San Francisco-based company announced the launch of four new products aimed at that investor class Tuesday: Coinbase Custody, Coinbase Markets, The Coinbase Institutional Coverage Group and Coinbase Prime. "We think this can unlock $10 billion of institutional investor money sitting on the sideline," said Adam White, Coinbase vice president and general manager. "We're seeing a rapid increase in attention awareness and adoption in the cryptocurrency market." While bitcoin's 1,300 percent rise to almost $20,000 in 2017 was led by retail investors, the new products could usher in more institutional investors and solve the problems that made many of them wary of the space, White said. Security is one of those issues. Fiat money stored in banks are insured but in cryptocurrency, funds that are lost or stolen have little or no possibility of recovery. Coinbase is looking to be the trusted custodian by launching Coinbase Custody. The company has already stored more than $20 billion of cryptocurrency on behalf of customers through its exchange but until the announcement did not have a separate EFTA01056738