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Coinbase to Add Dogecoin in the Next 6-8 Weeks
"We're going to be focused on how we can accelerate asset addition in the future," CEO Brian Armstrong said on the company's Q1 earnings call.
Coinbase will add meme-based cryptocurrency dogecoin to its list of tradable assets, CEO Brian Armstrong said on the company's Q1 earnings call Thursday.
STORY CONTINUES BELOW
"We plan to list DOGE in the next six to eight weeks," Armstrong said in response to an analyst question. "And then more broadly, we're going to be focused on how we can accelerate asset addition in the future."
Software engineers Jackson Palmer and Billy Markus launched dogecoin in 2013 as a joke to mock cryptocurrencies' speculative nature and engage a wider audience than bitcoin. Featuring a cheery looking Shiba Inu, a small Japanese hunting dog, the coin initially drew a small but loyal following, although its price languished at under a penny until earlier this year.
Over the past six weeks, retail investor interest plus DOGE-friendly tweets by billionaire Elon Musk have sent the coin's price soaring as high as $0.71 on May 5, although it fell under $0.40 shortly after, amid a cryptocurrency pricing freefall.
Read more: Coinbase Misses Out on Dogecoin Listing as Meme Token Rallies 6,000%+ on Binance
Kevin Reynolds
Kevin Reynolds was the editor-in-chief at CoinDesk. Prior to joining the company in mid-2020, Reynolds spent 23 years at Bloomberg, where he won two CEO awards for moving the needle for the entire company and established himself as one of the world's leading experts in real-time financial news. In addition to having done almost every job in the newsroom, Reynolds built, scaled and ran products for every asset class, including First Word, a 250-person global news/analysis service for professional clients, as well as Bloomberg's Speed Desk and the training program that all Bloomberg News hires worldwide are required to take. He also turned around several other operations, including the company's flash headlines desk and was instrumental in the turnaround of Bloomberg's BGOV unit. He shares a patent for a content management system he helped design, is a Certified Scrum Master, and a veteran of the U.S. Marine Corps. He owns bitcoin, ether, polygon and solana.
