Bitcoin’s price was skyrocketing throughout 2017. Coinbase, one of the biggest crypto-currency platforms in the country, was in the right position at the right moment to leverage on the value surge. And now, Coinbase doesn’t want to take its blockchain profits for granted. The company is plowing money back into their master plan to stay ahead in a much larger crypto-currency market. The company’s turnover was estimated at $1 billion through 2017, and more than $150 billion in securities were exchanged through 20 million consumers. Checkout best bitcoin for beginners for more info.
Coinbase, a corporation headquartered in San Francisco, is regarded as the first blockchain exchange site in the U.S. and with its continuing growth, placed at the No. 10 position on the CNBC Disruptor ranking in 2018 despite struggling to enter the ranking the two years prior.
In recruiting main executives from the New York Stock Exchange, Twitter, Facebook and LinkedIn, Coinbase has left little stone unturned on their path to success. The scale of the full time development department has almost increased in the last year.
This April Coinbase purchased Earn.com for $100 million. This app allows consumers to submit and obtain digital currencies when reacting to emails from the mass market and executing micro tasks. The business is also preparing to put a longtime investment capitalist, Earns founder and CEO Andreessen Horowitz as the first ever chief technical officer.
Coinbase priced itself at about $8 billion as it set out to purchase Earn. Com, according to latest estimates. This valuation is far more than the $1.6 billion cost reported in the summer of 2017 in the last phase of venture capital funding.
Despite having more than $225 million in funding from top VC’s including Union Square Ventures, Andreessen Horowitz and also from the New York Stock Exchange, Coinbase refuses to comment on its valuation.
The New York Stock Exchange is planning to start its own crypto-currency exchange to meet the needs of institutional investors. Nasdaq, a NYSE competitor is also planning a similar move.