Popular cryptocurrency exchange Coinbase has raised a fresh $300 million in a Series E financing round, bringing the company valuation to $8 billion.Coinbase plans to use the funding to "accelerate the adoption of cryptocurrencies," as it plans to remain the "entry-point into crypto" for millions of investors, according to a published blog post. The new investment round was led by investment firm Tiger Global with Y Combinator Continuity and Andreessen Horowitz, with others participating. In August 2017, Coinbase was valued at $1.6 billion, after receiving a $100 million from a Series D round led by Institutional Venture Partners investors (IVP). Rumors of the funding had turned up in early October with Mike Novogratz, the CEO at cryptocurrency-focused merchant bank Galaxy Digital, arguing that the rumors added legitimacy to the cryptocurrency market.“Here’s the poster child of the crypto space worth $8 billion — that’s a real company, and Tiger’s not a flake of an investor. These are smart, savvy guys,” he had stated at a finance conference, at the time.“We see hundreds of cryptocurrencies that could be added to our platform today, and we will lay the groundwork to support thousands in the future,” Coinbase Chief Operating Officer Asiff Hirji remarked in the post.It will also build its infrastructure to support regulated, fiat-crypto trading across the world, such as the launch of British pound sterlin...
