The Bitcoin exchange Coinbase wants to grow further. With an additional cash injection of $ 300 million, the company from San Francisco has set new plans. The current aspirations are primarily intended to attract institutional investors.
Coinbase wants to grow. In a blog post , the Bitcoin exchange has announced that it has completed a new round of financing. She says she has added another $ 300 million to the existing pool of funds. Now the Bitcoin start-up from San Francisco has a post-money valuation of eight billion dollars.
High goals
According to their own information, with the current financing they want to help both cryptocurrencies and the blockchain industry to continue to grow and be adapted. Specifically, Coinbase wants
expand globally and provide infrastructure between fiat and cryptocurrencies in regulated markets worldwide;
Offer more and faster cryptocurrencies: The company wants to add more cryptocurrencies to its current holdings and provide more liquidity;
provide more applications for cryptocurrencies, such as offering the Stable Coin USDC and further developing the Coinbase Wallet;
to promote the adaptation or investment by institutional investors.
Previous financiers
The $ 8 billion post-money valuation includes investors' previous investments. These include Tiger Global Management, Wellington Management, Andreessen Horowitz and Polychain.
Coinbase currently offers the cryptocurrencies Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Zerox, USDC and Ethereum Classic. Most recently, the company listed the first stable coin with Circle's USD Coin.
Controversy surrounding the Bitcoin exchange
There was also controversy in listing the ZRX token in the hawk of the stock market. Here an entanglement between the teams of Coinbase, the investment company Scalar Capital and the 0x platform was revealed. Therefore, there was considerable doubt about the integrity of the staff - it was speculated that the entanglements in the staff ultimately enriched the stock market .
