Coinbase raises $100m in Series D funding

Coinbase has a valuation greater than $1 billion as the company raises $100m in Series D funding
11 August 2017   1523

According to CoinDesk data, Coinbase has raised $100 million in Series D funding in what is the largest single traditional funding round for a public blockchain or cryptocurrency startup.

Such an achievement is indeed a major milestone for Coinbase team's mission "to create an open financial system for the world". 

The round was led by IVP, with participation from Spark Capital, Greylock Partners, Battery Ventures, Section 32 and Draper Associates.

According to the report, Coinbase experienced unprecedented growth over the last year. Now the company is going to use this new funding to continue scaling even further:

  1. Increase the size of our engineering and customer support teams to improve the customer experience.
  2. Open a GDAX office in New York City, further investing in our ability to serve institutions and professional traders.
  3. Invest in Toshi, to help accelerate digital currency’s shift from speculative investment to global payment network.

We’re fortunate to be working with IVP, one of the premier later-stage venture capital and growth equity firms in the United States. Founded in 1980, IVP has invested in over 300 companies, 106 of which have gone public. Notable IVP investments include companies such as Dropbox, Netflix, Twitter, Slack, and Snap.
 

Brian Armstrong
Co-Founder and CEO at Coinbase

Coinbase was founded in 2012 and has grown to become one the world’s leading digital currency companies. Today it is a portfolio of three products:

  1. Coinbase — the most popular retail exchange for digital currency
  2. GDAX — the most popular exchange for institutions and professional traders in the U.S.
  3. Toshi — a browser for the Ethereum network

Thus, Coinbase’s valuation is now around the $1.6 billion mark, and it has made clear that these new investments will be reinvested into the company to help carry cryptocurrency into the future.  

Japan to Tighten Regulation Due to Zaif Hack

$ 62 000 000 worth cryptocurrency was stolen from the Zaif exchange few weeks ago
25 September 2018   83

Hacking of Zaif exchange is the reason for toughening control over the market by the financial regulator of Japan, Reuters reports.

The first measure taken was administrative sanctions against the exchange and its operator Tech Bureau Corp. The Financial Services Agency (FSA) has expanded the list of requirements for the latter, pointing out the need to identify preventive measures and search for the organizers of the theft.

Shortly before that, researchers of the Japanese financial company Tech Bureau Corp could not provide details of the theft of $ 62 million from the Zaif crypto exchange at the request of the FSA. The Osaka-based operator had to investigate the causes, consequences of the theft and options for compensating the victims. According to the Agency, the financial company could not cope with the task.

According to the Tech Bureau, the exchange was hacked on September 14 within a few hours. The problem with the server was discovered by the site staff on 17 September. Official confirmation of the incident and notification of the authorities was made only a day later.

Recall, the theft of $ 60 million from the Japanese stock exchange Zaif caused a surge of volatility of bitcoin. For a short time the price was able to overcome the distance of $ 400.