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Shopify (SHOP +7.2%) CEO Tobias Lutke joined the board of directors at Coinbase Global (COIN +3.8%). The development tightens the existing relationship between SHOP and COIN.
“The concepts of decentralized finance and entrepreneurship exemplify the promise of Web3 where opportunity exists for the many, not the few,” said Tobi Lutke on the development. “Coinbase and Shopify share this like-minded vision, and I am excited to join the Board to support the future that Brian and the Coinbase team are building,” he added.
Shopify (NYSE:SHOP) accepts more than 300 cryptocurrencies on its platform through Coinbase, BitPay or CoinPayments.net. The online e-commerce platform also has a NFT Beta Program up and running.
Following the 2022 market sell-off, Shopify (SHOP) and Coinbase Global (NASDAQ:COIN) both trade well below their 50-day, 100-day and 200-day moving averages.
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