- Coinbase hired Lucas Matheson as country director in Canada.
- COIN Stock Soared over 9% in monthly trading sessions.
Coinbase, one of the largest cryptocurrency exchanges, recruited former-Shopify executive Lucas Matheson as country director in Canada with the aim of expanding Coinbase usage in Canada.
On March 30 2023, Nana Murugesan, Vice President International and Business Development at Coinbase announced the recruitment of Lucas Matheson as a major part of expansion plan in Canada also termed the country as “key international market.”
Coinbase has signed an enhanced Pre-Registration Undertaking (PRU) with concerned security authorities and regulators in Canada. The signing of Pre-Registration Undertaking is a major part of the expansion plan.
Nana Murugesan appreciated the efforts of Canadian Financial Regulators on bringing clarity to the crypto industry and also thanked them for continuing their collaborations with Coinbase to protect consumers while embracing innovation.
According to the reports Coinbase established a tech hub in Canada with the help of 200 engineers to serve its extensive product line and maintain reliability in the crypto sector. It is important to note that Coinbase’s global leadership team will visit Canada on a regular basis to communicate with authorities, collaborators and local citizens of Canada in order to understand trends and requirements of the Canadian market.
It is not the first time a Shopify former employee is being on-boarded by Coinbase. Earlier in February 2022, Coinbase hired Tobias Lütke as a board member. Tobias is founder and the Chief Executive Officer Officer of Shopify.
Coinbase noted in its press release that they believe Canadians are eager to access the benefits of cryptocurrencies, and they are excited to be able to provide them with a trusted platform to do so.
At press time, Coinbase Stock was trading at $65.03 with a trading volume of 2.089 million. Earlier, in the March 30 2023 trading session the COIN stock was closed at $64.16. COIN Stock has an overall market capitalization of 15.05 Billion U.S Dollars and has an average trading volume of 21.18 million.
In the last six months, COIN stock continuously showed positive signs of the group and has jumped as high as 6.59% in six month trading sessions. Moreover in the monthly trading session COIN stock mirrors an uptrend of 9.41%.
According to Coinbase, the fourth quarter report of 2022 the company has generated more revenue than compared to the estimated figures. In the same quarter, Coinbase generated $629.11 million in revenue which is bigger than estimated revenue which was $587.81.
Coinbase estimated revenue for the first quarter of 2023 is $656.15 Million and it is predicted that the company will earn more or equal to the estimated revenue. The financial report of the fourth quarter was quite surprising because since the last three quarters of 2022 the company has generated less revenue compared to the estimated figures.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing
Source: https://www.thecoinrepublic.com/2023/03/31/coinbase-hires-former-shopify-executive-coin-stock-rose-above-2/