Media: Market Valuation of Crypto Exchange Coinbase …

Media: Market Valuation of Crypto Exchange Coinbase …

Media: Market valuation of crypto exchange Coinbase could be $ 8 billion

American cryptocurrency company Coinbase is in the final stage of negotiations, as a result of which its market value will be $ 8 billion, writes Recode, citing anonymous sources..

According to the portal, Coinbase is in talks with Tiger Global and its shareholders regarding the possible attraction of investments in the amount of $ 500 million. The source clarified that $ 250 million will be added to the company’s assets, while the second part will go to buy back shares from their current holders..

Tiger Global Management was founded in 2011 and has been investing in both public and private markets globally.

Galaxy Digital CEO Mike Novogratz believes the news of the talks between Coinbase and Tiger Global suggests that cryptocurrencies are more than just another tulip mania. “Here’s an exemplary representative of the $ 8 billion cryptocurrency space – this is a real company, and Tiger is not such a small investor. These are smart, calculating guys, “Novogratz quotes CNBC as saying at the Finance Disrupted conference on Tuesday..

According to CNBC, the deal with Tiger Global will make Coinbase one of the most expensive startups in the US. Coinbase was valued at $ 1.6 billion last year after a Series D fundraising event involving IVP, Section 32, Draper Associates and others..

Media: Market Valuation of Crypto Exchange Coinbase ...

Over the past year, Coinbase has taken a number of steps to grow its own business on multiple fronts. In May, the company announced the launch of four new products aimed at attracting “$ 10 billion belonging to institutional investors waiting in the wings to enter the crypto space.”.

Coinbase recently launched a new product called “Coinbase Bundle,” which aims to make it easier for new traders to build their first cryptocurrency portfolio. It consists of a basket of assets currently traded on Coinbase: Bitcoin, Bitcoin Cash, Ethereum, Litecoin, and Ethereum Classic.

Coinbase is also actively recruiting employees from traditional companies, including Facebook, Microsoft, Amazon, and Google. On Tuesday, the company announced that Chris Dodds, a member of the board of directors of the banking corporation Charles Schwab, will join it to help it expand its range of financial services..

Media: Market Valuation of Crypto Exchange Coinbase ...
Media: Market Valuation of Crypto Exchange Coinbase ...

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