Coinbase to Reduce Index Fund Fee to 1%

Additionally, american cryptocurrency exchange reported on the Ethereum Classic listing to the Index Fund
14 August 2018   1635

The American cryptocurrency company Coinbase announced the reduction of fees for managing the index fund - from two to one percent in annual terms.

According to representatives of Coinbase, the decision was made to attract investors investing in other index funds based on other classes of assets. This, according to the company, will help attract institutional money to the crypto industry.

Also it is noted that the index fund of Coinbase was rebalanced to list the Ethereum Classic. In addition, the company said that they will supplement the fund with new assets (currently there are only five of them).

The Coinbase index fund gives accredited investors from the United States the opportunity to invest in the most liquid crypto assets weighted by their market capitalization. The minimum investment in the fund is $ 250,000, the maximum allowable - $ 20 million.

US OCC to Hire Coinbase's Chief Legal Officer

Brian Brooks will be the Office of the Comptroller of the Currency COO and  Senior Deputy Comptroller since 1st of April
17 March 2020   433

The U.S. Office of the Comptroller of the Currency (OCC) has recruited Coinbase's cryptocurrency exchange legal director, Brian Brooks, as its chief operating officer and first deputy head of department.

Brooks will take office on April 1st. He has been in charge of Coinbase's legal affairs since September 2018. At Brooks' new location, they announced that he would leave Coinbase and replace current COO Morris Morgan. Brooks is also a member of the board of directors of the mortgage company Fannie Mae, but will leave this post with a new appointment.

He is a visionary thinker with a passion for service and a deep understanding of how the financial services industry supports our nation's prosperity. We are fortunate to attract such an experienced and talented individual to join our federal agency.

 

Joseph Otting

Current Comptroller of the Currency

The Office of the Comptroller of the Currency is part of the US Department of the Treasury and supervises national banks. The agency has been operating since 1863 and is taking measures against banks, the practices of which it considers to be excessively risky.