In the New Establishment Summit of Vanity Fair Coinbase CEO Brian Armstrong stated that Coinbase has generated close to $2 billion in transaction fees since it launched in 2012. Coinbase started gaining huge profit since 2017 and has generated around $2 billion in transaction fees since the company launched back in 2012. Armstrong also added that he does not know why regulators’ reactions to the planned launch of Facebook’s Libra were so negative in the United States.