After the negotiation of CoinBase with Tiger Global investment firm, the former can become a part of most worthy startups of the U.S. Cryptocurrency exchange CoinBase at present is in the path of settling a deal with the Tiger Global investment firm following which it can be appraised at USD 8 billion.
Per records, this cryptocurrency exchange is in talking terms with the management and shareholders of Tiger Global investment firm at present related to an investment that can introduce around 500 million USD. According to the sources, CoinBase is expecting to add on another USD 250 million in new money. The report also predicts that another $250 million can be used for buying out the investors who are already there.
In New York, Tiger Global is a well-known investment firm which is preparing itself to get into this big deal with CoinBase which has become a brand new and has a vast pool of consumer. This is not the only deal though as the investment firm is gearing up for other similar deals as well. It invests in both public and private markets, and Galaxy Digital’s Michael Novogratz seems to have high hopes for this investment enterprise as per a CNBC’s report.
Novogratz referred to CoinBase as a poster child in this big world of cryptocurrencies which is going to be huge after its worth shoots up to 8 billion USD.
CoinBase acquired Earn.com at the beginning of this year in a deal of USD 100 million and the acquisition followed with other companies as well, which the cryptocurrency exchange snapped up. Per Recode reports, and on the base of all these acquisitions, it can be gauged that the deal makes sense and the value of CoinBase can readily appreciate up to 8 billion USD.
Though the cryptocurrency industry is regarded as a highly risky one, it doesn’t stop CoinBase from establishing itself, which it started a year ago. It is making faster moves to make it to the top. Chris Dodds, the board member of Charles Schwab, would be joining hands with CoinBase as an advisor to provide best possible leadership skills, in-depth knowledge of the financial market and service industry and relevant experience related to financial and accounting needs; as per an announcement made today.
This move of CoinBase can not only make it a big name in this crypto world but also provide enough ground for this industry to be in more focus and valued rationally.