According to the Wall Street Journal, Bitcoin exchange Coinbase Inc opened a new funding round that values the company above $1 billion. Investors in the round were not yet named. Coinbase aimed to raise at least $100 million.
If it lands, the deal could set a record for the largest venture-backed Bitcoin company raise. A Coinbase spokesperson reached by Reuters declined to comment.
Things are busy at Coinbase
As one of the largest Bitcoin companies, Coinbase has been slammed with traffic while Bitcoin sits near record prices. Newer ways for startups to raise money with blockchain tooling also pushed crypto demand higher.
In January, Coinbase said it had raised $75 million from large financial players including the New York Stock Exchange, USAA Bank, and Spain’s BBVA (Reuters).
Earlier the same year, Coinbase received a New York Department of Financial Services license for virtual currency and money transmission.
