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Hedge Funds

Crypto Exchange Coinbase Valued At $8B By Potential Hedge Fund Backer | Hacked: Hacking Finance

by posted 1year ago 108 views
Hedge fund Tiger Global is reportedly eyeing a $500 million investment into San Francisco-based Coinbase. The investment, which was first reported in recode, attaches an $8 billion valuation to the popular U.S.-based cryptocurrency exchange. Not only would a deal of this size bolster Coinbase’s ranking among blockchain companies, but it would make it one of the most richly valued unicorns in the country. While this year’s market downturn has certainly eaten into trading volumes, it’s yet another sign that industry leaders, particularly those with diversified revenue streams, are the ones to emerge unscathed from the fallout.