Coinbase to Issue New Statement

As reported, company says it was wrong about SEC approval of acquisitions of Keystone Capital Corp., Venovate Marketplace Inc. and Digital Wealth LLC
18 July 2018   727

Vice President of Communications of Coinbase Rachel Horwitz denied the information that the company received approval from the Securities and Exchange Commission of the United States for a deal to buy brokerage companies. This is reported by Bloomberg.

It is not correct to say that the SEC and FINRA approved Coinbase’s purchase of Keystone because SEC was not involved in the approval process. The SEC’s approval is not required for the change of control application. Coinbase has discussed aspects of its proposed operations, including the acquisition of the Keystone Entity, on an informal basis with several members of SEC staff.
 

Rachel Horwitz

Vice President of Communications, Coinbase

On Monday, a spokesman for Coinbase said that the company received permission from the SEC and the Agency for Regulation of Financial Institutions (FINRA) to purchase Keystone Capital Corp., Venovate Marketplace Inc. and Digital Wealth LLC.

However, despite the refutation from Rachel Horwitz, Coinbase still intends to obtain a license to carry out brokerage activities.

Coinbase Capitalization to Exceed $8B

Another financial round, headed by  Tiger Global Management, brought $300M to the company
30 October 2018   161

The American cryptocurrency company Coinbase raised $ 300 million in the framework of a round of financing for the E Series, which was led by the American hedge fund Tiger Global Management. Y Combinator Continuity, Wellington Management, Andreessen Horowitz, Polychain and other companies took part in financial round too.

Thus, according to the company's estimates, its capitalization has already exceeded $ 8 billion, and the annual profit at the same time, according to Bloomberg, may be about $ 1.3 billion.

Coinbase intends to use funds for global expansion, expansion of listing, development of various utilitarian applications and attraction of institutional institutions to the industry.

Company became the first unicorn in the cryptocurrency sphere after the closing of the round of financing for the Serie D in August 2017.

Earlier in the media it was reported that Coinbase could enter the IPO after another investment.