Coinbase raises $ 300m for future expansion

One of the leading cryptocurrency exchanges, Coinbase, has just announced it has raised $300 million in a new private funding round, giving it an $8 billion current valuation. The funds were said to be for expanding their operations worldwide and speeding up the process of listing new trading pairs on the exchange.

Coinbase has also announced it is acting as asset manager to a new Bitcoin-focused investment fund of $500 million that is due to be launched before the end of the year. Competition in this sphere is intensifying as illustrated by the owners of New York Stock Exchange, ICE (NYSE:ICE), entering the space in the next few weeks with the launch of their crypto trading platform Bakkt.

Coinbase was also recently in the news after axing 15 remote members of their support team to bring the functions back to actual physically located offices for more effective teams and also denying rumors that it is going to IPO soon.

Crypto’s race into space heats up

Consensys, the major Ethereum startup and development agency, has just bought an asteroid mining company called Planetary Resources. The company has been going for more than ten years, and its…

This article appeared first on Cryptovest

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