Coinbase raises $300 million at post-money valuation of $8 billion
|Coinbase co-founder and CEO Brian Armstrong
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Crypto exchange Coinbase has closed a $300 million Series E round led by Tiger Global with participation from Andreessen Horowitz, Polychain, Y Combinator Continuity, Wellington Management and others and is now valued at $8 billion post-money as per its statement.
Coinbase is gearing this financing towards global expansion, offering of more crypto assets, utility applications for crypto and courting of institutions into the digital currency scene.
“Coinbase is, and will remain, a crypto-first company. More than anything, we’re proud of the millions of people that have turned to Coinbase as their entry-point into crypto.” An official blog post read.
|The other Coinbase co-founder Fred Ehrsam
image credit : Internet Education Foundation on Flickr
“We take that responsibility very seriously. We strive to be the easy, trusted way for anyone to get started with cryptocurrencies. We see Coinbase’s growth as validation that the ecosystem will only continue to grow in size, influence and impact — ultimately ushering in a more open financial system for the world.” It stated.
San Francisco based Coinbase has now raised over $500 million in total with 10 acquisitions till date.