Coinbase attracts venture capital investment for business expansion

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The crypto currency exchange Coinbase announced on their blog about the opening investment round of series E in the amount of $ 300 million investment round holds Tiger Global Management, with participation from Y Combinator Continuity, Wellington Management, Andreessen Horowitz, Polychain and others.

According to the official statement, the crypto currency exchange Coinbase attracts $ 300 million venture capital investment for development activities in four areas:

  • Expansion in the global market by building an infrastructure for exchanges between Fiat and cryptocurrency worldwide.
  • The increase in the number of outstanding cryptocurrencies, in order to support the future of thousands of cryptocurrencies;
  • The development of useful applications for cryptocurrencies, like the recently announced stablein USDC or cryptocurrency wallet;
  • The involvement of institutional investors in the cryptocurrency industry, expanding the functionality of custodial services.

The crypto currency exchange stressed that “is and will always remain originally cryptocurrency company”:

“We try to be a simple and reliable method for all the beginners in the cryptocurrency industry”

Rumors that the crypto currency exchange plans to attract investments was slightly exaggerated: in early October, the media reported that Coinbase is conducting negotiations on attraction of investments in the amount of $ 500 million, and at the end of the month, the CNBC journalist said that the Playground and is planning to launch an IPO.

This week we also learned that the crypto currency exchange Coinbase reduces employees: dismissed at least 15 people. Meanwhile, in September the company increased almost twice, up to 500 employees.

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