Since Coinbase’s inception in 2012, the company has received recognition both from within and from outside the Bitcoin community. Time Magazine listed Coinbase as one of the top 10 most exciting startups of 2013, and they have only been chugging along since. Coinbase is now making headway into Europe and is also available in 6 languages. Coinbase has a unique position as a leading Bitcoin wallet, Bitcoin buying/selling, and Bitcoin merchant services provider.
Update: Coinbase is unable to comment on the developing story; TechCrunch reports that their sources say only $50 million is being raised.
Also read: Coinbase Raises $25 Million Led By Andreessen Horowitz
When Coinbase first nabbed $5 million USD in funding in May of 2013, it was the largest fundraise for a Bitcoin startup (Because all Bitcoin companies are still startups) ever. Now, other companies have also reached that important marker. Back in April, Coinbase secured $25 million in funding led by VC fund Andreessen Horowitz. Other participants in Coinbase’s Series B included Union Square Ventures and Ribbit Capital, which were part of Coinbase’s Series A funding. It isn’t too farfetched to assume that some of these firms may be back for a third round.
Another interesting funding round recently closed and publicized that bears mention is that by Onename. In contrast to Coinbase, which is at its heart a centralized service, Onename has gone completely open source and decentralized. Recognizing the public pressure for such moves, Coinbase has implemented multi-sig in their Coinbase Vault.
What do you think about Coinbase’s pending new round of funding? Comment below!
Images from Shutterstock.
Last modified: August 4, 2020 6:59 PM UTC