Coinbase, the largest US cryptocurrency company, is in the final stages of negotiating a new round of financing in the amount of up to $ 500 million, after which its investment valuation will rise to $ 8 billion, reports Recode , citing sources familiar with the situation.
According to the publication, the company based in San Francisco, which owns the same name bitcoin exchange and wallet, as well as a number of other cryptocurrency services, is in talks with New York investment firm Tiger Global. Also in the transaction involved the current investors Coinbase, with Tiger Global plans to buy back some of them owned shares in the company.
Successful completion of the negotiations will mean that Coinbase will be one of the most highly regarded startups in the United States, while existing investors will be able to sell the secondary placement in cash.
Representatives from Coinbase and Tiger Global have refrained from commenting on new investments in a Californian company.
Recall that in August 2017, Coinbase became the first “unicorn” in the cryptocurrency industry , closing a $ 100 million round of financing for the Series D.
Despite the fact that in 2018, against the background of a fall in the cryptocurrency market, Coinbase’s financial situation also suffered, the company still remains profitable, and interest in it is still high.
It is noteworthy that at the beginning of the year the company was forced to make a warning to potential intermediaries, demanding that they stop precipitating it with proposals. The company itself has banned the shareholders from selling their shares in the secondary market.
Note that the publication also reports rumors circulating for some time in the cryptocurrency space that Coinbase plans to have an IPO.
Meanwhile, Coinbase itself today announced that it had joined the board of directors of Chris Dodds, a high authority in financial circles, and senior advisor for direct investments at The Charles Schwab Corporation.
Recall that in September it was reported that Coinbase is also exploring the possibility of launching a bitcoin-based exchange-traded investment fund and is consulting with BlackRock to this end.
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