Return to site

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.

All Posts

Almost done…

We just sent you an email. Please click the link in the email to confirm your subscription!

OKSubscriptions powered by Strikingly