US-based crypto exchange – Coinbase – has practically finished talks on new funding round which can raise the market value of the company to $8 billion.
According to the available data, the platform is negotiating with New York-based investment company Tiger Global regarding possible financing of up to $500 million. Besides, the current exchange investors are also taking part in the deal, but the new investor is about to acquire some part of their stake in Coinbase.
With this agreement, the American crypto exchange can become of the most expensive startups in the country. Specifically, after D round of funding, Coinbase was valued near $1.5 billion.
Tiger Global Management appeared in 2011 and focuses on investments into both public and closed markets worldwide.
The parties refused from making any comments on the abovementioned deal.
Coinbase continues active business expansion. In particular, it announced four projects aimed at institutional investors that want to join crypto community this May. Coinbase Bundle that is designed to help beginners with the creation of the crypto portfolio. The project supports Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic and Litecoin.