coinbase seeks investors

On June 2, 2017, the Wall Street Journal reported that San Francisco-based virtual currency exchange Coinbase Inc., at a $1 billion valuation, is seeking additional funding from investors.

Coinbase previously raised close to $116.5 million from investors, such as Andreessen Horowitz, Union Square Ventures, DFJ, Ribbit Capital, and NTT DoCoMo. It also obtained capital from USAA Bank, BBVA Ventures, Bank of Tokyo-Mitsubishi UFJ, and the New York Stock Exchange.

In this most recent round of funding, Coinbase is seeking over $100 million. If it succeeds it will be a watershed moment, representing the first time a venture-backed blockchain company has raised as much capital.

Jeremy Nation is a writer living in Los Angeles with interests in technology, human rights, and cuisine. He is a full time staff writer for ETHNews and holds value in Ether.