Coinbase is reportedly an $8 billion company

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TechCrunch

• Coinbase is reportedly closing a deal that values it at $8
  billion
• It’s reportedly raising a $500 million funding round. 
• Coinbase’s most recent private valuation was at $1.6 billion,
  according to investors who contributed to its $100 million
  funding round last year. 

Coinbase is closing a deal that values the six-year-old
cryptocurrency trading platform at $8 billion,
Recode reports. According to Recode’s sources the company is
raising a $500 million funding round that will likely include
existing investors and a new investment from hedge fund Tiger
Global.

Coinbase, which provides one of the leading platforms to exchange
cryptocurrencies like ethereum, bitcoin, and litecoin, was

most recently valued at $1.6 billion with a $100 million
funding round in August 2017. Despite the dramatic dip in value
in some of the platform’s cryptocurrency offerings this year,

Coinbase was reportedly profitable in 2018. 

The company has
emerged as one of the most prolific acquirers in the crypto
sector, with a string of deals designed to bolster its
services and fulfill its ambition of creating a one-stop shop
that brings crypto to the masses. So far, most of Coinbase’s
acquisitions have been relatively small, but a hefty new round of
funding could give it significant firepower on the M&A front.

At $8 billion, the cryptocurrency platform
would be among one of the highest privately valued companies in
the US. Coinbase declined to comment on the matter.