Coinbase to Launch Venture Fund

Coinbase will provide financing to promising companies which promote great and inspirational ideas
07 April 2018   590

On April 5, Emilie Choi, Head of Corp at Coinbase, has announced the formation of Coinbase Ventures. Coinbase will provide financing to promising companies which have really great and inspirational ideas. The goal of Coinbase Venture fund is to help the most compelling companies to flourish. Its focus is on building strong relationships and helping to spur on the development of the ecosystem.

We also have a strong Coinbase alumni network, which we’re very proud of. People who have worked at Coinbase are encouraged to think entrepreneurially, and you can expect that we’ll enthusiastically invest in ideas from our own alumni network.
 

Emilie Choi

Head of Corp, Coinbase

Coinbase reported that it may invest in companies that are potentially competitive, because it’s in everyone’s interest to see the ecosystem innovate, and it takes a long term view of the space, and it believes that multiple approaches are healthy and good.

Previously we have reported that Coinbase announced that in the coming months it will provide its users with the opportunity to withdraw coins that appeared as a result of the forks of the Bitcoin network.

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   153

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.