Market Analysis

Coinbase exchange reports of being worth 8 Billion USD

Coinbase exchange reports of being worth 8 Billion USD
May 1, 2018 by Rico Wise

Coinbase, a giant amongst digital money exchanges and brokerages, reports of itself being worth of 8 billion US dollars. When Coinbase reportedly obtained Earn.com website previous month, its proposition involved an equity package that faintly valued the exchange at the worth of 8 billion USD, which is a notable move up from its most recent valuation that took place previous year. Last August, Coinbase was appraised of 1.6 billion USD value, after the 100 million USD Series D founding round had been concluded, making the exchange the first ever “unicorn” in the field of cryptocurrencies and secured its position as one of the most strongly desired investments of the Silicon Valley.

However, a lot has happened in the course of the next eight months, both at the exchange and in the sphere of cryptoindustry.

Coinbase is reported to have gathered a profit in the amounts of more than 1 billion USD in 2017, and a large percentage of that was accrued in the course of the 4Q rally, which drove the price of Bitcoin to nearly 20,000 USD.

Coinbase is rumored to have approached the government regulators in terms of procuring the registration of the exchange as a licensed brokerage company, allowing it to list security coins in a manner compliant with the legislation.

Also, the product line of the Coinbase has undergone a significant expansion, with the addition of a custodial service for crypto assets, created for institutional purchasers, along with the launch of an index fund for digital currencies.

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