Bitcoin prices skyrocketed in 2017. Coinbase, one of the largest cryptocurrency exchanges in the world, is in the right place at the right time to take advantage of a surge in flowers. Even so, Coinbase is not interested in taking the gain crypto just like that. To keep advancing on a much larger Cryptocurrency market, the company plows money back into their master plan. Until 2017, company revenues were reported at $ 1 billion and more than $ 150 billion traded assets across 20 million customers.
Coinbase, a San Francisco-based company, is known as the leading Cryptocurrency trading platform in the United States and with its sustainable success, landing in place No. 10 In the CNBC disruptive list in 2018 after failing to make a list of two years earlier.
On their way to success, Coinbase did not leave the stone missed in the key executive hunt from the New York Stock Exchange, Twitter, Facebook and LinkedIn. In the current year, the size of the full time engineering team almost doubled.
Get.com purchased by Coinbase this April for $ 100 million. This platform allows users to send and receive digital currencies when replying to the bulk market email and completing micro tasks. At present, the company plans to bring former Venture Capitalist Andreessen Horowitz, get the founder and CEO as the first technology Chief Officer.
According to the current assessment, coinbase appreciates around $ 8 billion when it is set to buy. This value is much higher than the $ 1.6 billion assessment which is estimated in the last round of venture capital financing in the summer of 2017.
Coinbase refused to comment on his assessment despite the fact that he had more than $ 225 million in funds from VC Top including Union Square Ventures, Andreessen Horowitz and also from the New York Stock Exchange.
To meet the needs of institutional investors, the New York Stock Exchange plans to start the exchange of Cryptocurrency itself. Nasdaq, rivals NYSE also contemplates similar steps.
• Competition will come
As a competitive organization trying to bite the coinbase business, Coinbase is looking for other venture capital opportunities in an effort to build a trench throughout the company.
And Dolev, an instant analyst Nomura, said that the square, a company run by Twitter CEO Jack Dorsey could eat into the coinbase exchange business because it began to trade Cryptocurrency on a square cash application in January.
According to estimates by Dolev, the cost of trading on average coinbase is approximately 1.8 percent in 2017. This high cost can encourage users to other cheaper exchanges.
Coinbase wants to be a convenience store for institutional investors while hedging the exchange business. To captivate in the investor class white gloves, the company announces a new product fleet. This investor class is very careful to dive into a fluctuating Cryptocurrency market.
Prime coinbase, institutional coin coverage group, custody coinbase and coinbase markets products launched by the company.
Coinbase feels there are billions of dollars in institutional money that can be invested in digital currencies. It already has a custody of $ 9 billion in customer assets.
Institutional investors worried about security even though knowing Coinbase had never experienced hacks like some other global cryptocur exchanges. President Coinbase and COO said that the urge launched the coin detention last November was the lack of trusted guards to protect their crypto assets.
• Currently Wall Street shifts from Bashing Bit to Cryptocurrency Bacer