Coinbase, the startup at the core of the crypto craze, is now valued at $8 billion
The company is in talks with Tiger Global and its existing shareholders for an investment of up to $500 millionRead full story
Regardless of the questionable trades and scams in the cryptosphere of yesterday, this is the type of company and the type of investment that will help pull this asset class into tomorrow’s mainstream consciousness.
Have no idea if this is a fair valuation or not, but Coinbase is going to be a defining monolyth of this new landscape and has to be taken very very seriously.
Tipping my hat in respect....
And they’re launching a retirement account service for institutions. That should give them an even bigger boost. Although, the last thing I want to see done right now is people rolling over their 401k into Crypto- unless you really know what you’re doing.
Goes to show how much money there is to be made from brokering trades in crypto, be it currencies, assets, tokens, ICOs, you name it. This entire crypto thing is supposed to enable frictionless or friction "less" trades/payments but turns out that it's just another case of selling shovels in a gold rush...
This is so interesting. An open crypto currency is attractive but so risky. Lots to admire in the people taking the risks.
The general public still only understands the blockchain world via the constant news in the crypto space with Coinbase being one of the kings. It's a massive rabbit hole to go down if you want to, but the overwhelming advantage to its future is a major push for technical accountability and transparency that's never really been seen before. It's exciting to watch and it's still only the tip of the iceberg at this point.
Fortunately there's enough pushback against the predatory divisions these days...
This valuation has on big caveat: IT’S ON PAPER.
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