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Dogecoin is coming to Coinbase Global, the company said on Thursday during a call with investors and analysts to discuss its first-quarter performance.
The plan is to list dogecoin in the next six to eight weeks, said CEO Brian Armstrong. The Coinbase COIN,
The report on its plans to offer dogecoin come as the crypto platform reported first-quarter earnings of $3.05 per share, or $771.51 million, on revenue of $1.8 billion from $585 million in the previous period.
The results were mostly in line with investor expectations and matched the company’s preliminary report that was released ahead of its April 14 listing on the Nasdaq Inc. NDAQ,
Coinbase shares closed down over 6.5% Thursday, but in extended trade were indicated flat, at last check.
Dogecoin prices have been on a major downtrend after hitting a record near 75 cents on Saturday, the day that crypto bull and big dogecoin supporter Elon Musk made his debut on sketch-comedy show “Saturday Night Live.”
At last check, dogecoin was changing hands at 41.5 cents, off 12%, but up more than 8,200% in the year to date. That compares with relatively mundane moves this year in more established assets. Gold futures GC00,
On Thursday, Bloomberg News reported that the Binance, the largest crypto trading platform in the world by volume, was being investigated by the U.S. Justice Department and Internal Revenue Service.