Coinbase Investment Valuation Can Grow To $8 Billion
Investment attractiveness of Coinbase, one of the most famous crypto companies, which owns the same-name exchange and wallet, may soon be estimated at $8 billion, Recode reports.
Coinbase management is negotiating a new funding round with Tiger Global, a New York-based venture capital firm, which plans to invest in the development of the crypto startup.
Coinbase CEO Brian Armstrong. Source: TechCrunch
Also the current Coinbase investors will take part in the agreement. The total amount of funding can reach $500 million. After the transaction, the Coinbase capitalization may be one of the highest among all American startups. At the same time, none of the negotiators agreed to disclose the details of the transaction and share any comments.
This year, the Coinbase’s business suffered after the crypto market's downfall, but the company's executive director, Brian Armstrong, is optimistic about the future, not paying attention to the current market situation. Coinbase remains a profitable company focused on the progressive development and creation of an open financial system for the whole world.
Recode’s sources argue that a number of recent steps on the part of Coinbase management, including attracting new employees to senior positions and increasing investments, demonstrate that the company plans to enter the IPO market in the near future.
As previously reported, the Coinbase team introduced Coinbase Bundle, a new package of the five most liquid cryptocurrencies.