Cryptocurrency Start-Up Coinbase Valued At $8 Billion Despite Bitcoin's Plunge

From CNBC, Oct. 30:

• Coinbase simply raised $300 1000000 inwards a Series due east round, bringing its valuation to $8 billion.
• The start-up plans to purpose those funds to "accelerate the adoption of cryptocurrencies as well as digital assets," Coinbase President as well as COO Asiff Hirji says.
• Coinbase is oft seen every bit a poster tiddler for the industry, as well as its allure amidst pinnacle venture capitalists has been touted every bit a positive sign for the hereafter of cryptocurrencies.

Bitcoin's value has dropped drastically this year, but the value of cryptocurrency central Coinbase is skyrocketing inwards the contrary direction.

The San Francisco-based fellowship on Tuesday announced a $300 1000000 fundraising circular that puts Coinbase's novel valuation at $8 billion as well as makes it 1 of the almost highly valued inwards the United States. The bargain marks a massive increase from its previous valuation, which had been $1.6 billion every bit of August 2017.

The Series due east circular was led past times Tiger Global Management, alongside participants including Andreessen Horowitz, Y Combinator Continuity, Wellington Management as well as Polychain.

Coinbase plans to purpose the funds to "accelerate the adoption of cryptocurrencies as well as digital assets," Coinbase President as well as Chief Operating Officer Asiff Hirji said inwards a statement.

The company, the best known U.S. of A. cryptocurrency trading platform, is seen every bit a poster tiddler for the fledgling industry. Its allure amidst pinnacle venture capitalists has been touted every bit a positive sign for the hereafter of cryptocurrencies.

Coinbase, which landed at the No. 10 spot on the 2018 CNBC Disruptor l list, was sure inwards the correct house at the correct fourth dimension when bitcoin skyrocketed to a greater extent than than 1,300 pct concluding yr to nearly $20,000.

Bitcoin as well as other cryptocurrencies select lost to a greater extent than than 65 pct of their value since, every bit retail involvement wanes. But Coinbase has plowed money dorsum into a primary innovation to cater to institutional investors. This year, it launched a suite of offerings for professional person investors. One of them, Coinbase Custody, received regulatory approval concluding calendar week from the New York Department of Financial Services.

It lately partnered alongside beau cryptocurrency unicorn Circle to back upwards a U.S. of A. dollar-backed cryptocurrency known every bit a "stable coin."...MORE

Previously:

SEC documents exceptional scores of fraud allegations against Andreessen-backed Coinbase 
People are complaining to the SEC?
That is not what you lot desire ahead on your IPO.

"Coinbase Strategy Teardown: How Coinbase Grew Into The King Midas Of Crypto Doing 
$1B In Revenue"
Coinbase is the Andreessen Horowitz backed cryptocurrency play that's working out.
21.co is the 1 that isn't....

"Announcing Coinbase Index Fund"
Coinbase, as well as the things Coinbase is doing look to live a to a greater extent than realistic manner for Andreessen Horowitz to brand money out of Bitcoin than their 21.Co. (see below)...

Andreessen Horowitz Investee Coinbase May Buy Andreessen Horowitz Investee Earn.com (né 21.co)
Ha!
That's 1 manner to exit.
Earn.com was non mentioned inwards Apr 4's "Crypto M&A: "Three Startups Coinbase May Have Its Eye On"" because it's such a Tesla/SolarCity-cousins-shouldn't-marry type of deal.
Yet hither nosotros are....

And many to a greater extent than but that's such a squeamish progression we''ll terminate here. Use the 'search blog' box if interested.