Coinbase tripling staff to meet hypergrowth of cryptocurrency and adding Toshi app

Coinbase is now focused on two, separate businesses:

To better highlight the difference between these two products:

· Coinbase is a place for consumers to easily buy, sell, and store digital currency.
· GDAX (formerly Coinbase Exchange) is an exchange for professionals to trade digital assets.

Coinbase offers the GDAX exchange. It offers institutions and professionals the ability to trade a variety of digital currencies like Bitcoin, Ethereum, and more on a regulated U.S. based exchange.

Hypergrowth has caused Coinbase to see an 8 X increase in customers, trading volume and sales.

Coinbase would like to improve the product so this is a milestone on their roadmap.

The IRS asked Coinbase for records of all customers but they got that number down to 97%.

Coinbase are working with IRS to develop clear processes on how customers can pay their taxes legally

They launched a new app by the name of Toshi that is trying to mimic WeChat and Mpesa (Kenya).

Toshi is like a browser for Ethereum network. They want to make it easy for developers make applications and for customers to use them.