Crypto-Exchange Coinbase Valued at $8 Billion Despite Bitcoin’s Drop

Crypto-Exchange Coinbase Valued at $8 Billion Despite Bitcoin’s Drop

As the market of cyber-assets is going through a turmoil year, virtual money exchange Coinbase is reaping the benefits. In 2018, this American crypto-startup has become one of the most valued ones in the USA.

$6 Billion More Valuable Than Last Year

Coinbase, a crypto-company founded six years ago and which is now functioning for 32 countries with headquartered in California, is skyrocketing. This week it announced a fundraising round E worth $300 million and led by Tiger Global Management. This round, according to the company’s blog on Medium, puts the startup’s novel valuation at $8 billion.

This is more than $6 billion more than last year August when Coinbase was worth $1.6 billion. The change, thus, has made the crypto-entity one of the top-valued US startups.

Among participants of the E fundraising, there also were:

  • Y Combinator Continuity
  • Polychain
  • Andreessen Horowitz
  • Wellington Management

Asiff Hirji, the crypto-startup’s head and COO, said that they will use the collected funds to speed up the embrace of cyber-coins and virtual assets. 

What You Should Know About Coinbase

Coinbase is one of the most known American cyber-assets trading venues. On the 2018 CNBC Disruptor 50 list, it appeared to be on the 10th place. It facilitates the change among the most down cyber-assets in 32 countries, whereas in 190 states it enables bitcoin transactions. Hirji says the company is looking to adding more virtual coins to the platform besides BTC, BCH, ETH, ETC, LTC and others in the future. 

Also, Coinbase informed it wants to close the gap between public currencies and digital ones in regulated markets. Moreover, the company intends to attract more institutional investors into the crypto-domain.