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Report: Coinbase Negotiation Could Value Crypto Exchange at $8 Billion

Add paragraph text here.San Francisco-based cryptocurrency exchange and wallet service Coinbase is finishing negotiations that would value the company at $8 billion, technology news site Recode reports Oct. 2.

Citing anonymous sources familiar with the matter, Recode states that Coinbase is in talks with Tiger Global and its shareholders regarding a possible $500 million investment. The sources reportedly said that Coinbase would add $250 million to its treasury, while another $250 billion could be slated for buying out existing investors.

Recently, Coinbase introduced a new product called “Coinbase Bundle,” which it purports will simplify the crypto trading process. Coinbase Bundles is a basket of five cryptocurrencies supported on Coinbase — Bitcoin, Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC), and Ethereum Classic (ETC) — and purchased in proportion to their market capitalization in U.S. dollars.

Coinbase has also on-boarded a host of talent from traditional financial institutions as well as big name tech companies like Facebook, Microsoft, Amazon, and Google. Today, Coinbase announced that Chris Dodds, a member of the board at Charles Schwab, would be joining the exchange’s board to contribute to the Coinbase’s expansion in terms of its financial services capabilities.

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