Coinbase valued at $8B after $300M fund raise

posted 8 months ago
US based cryptocurrency exchange Coinbase received $300 million in new funding. The firm said that Tiger Global Management led in contributions, while Y Combinator Continuity, Wellington Management, Andreessen Horowitz, Polychain and more also participated. With a "post-money valuation of over $8 billion", Coinbase's stated mission is to drive adoption of cryptocurrencies and digital assets.

Going forward, Coinbase said the funds will be put toward international expansion and developing infrastructure to support its exchange services. The firm also plans more "utility applications" for cryptocurrencies, citing the Coinbase Wallet. The firm said "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."
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