Record raise

August 11th, 2017

"We are becoming so accustomed to millions and billions of dollars that 'thousands' has almost passed out of the dictionary."
– Everett Dirksen

THE FEATURE

$100 Million: Coinbase Raises Biggest-Ever Round for Bitcoin Startup

Coinbase has completed the cryptocurrency sector’s largest single round of traditional financing, raising $100 million from venture capital investors.

While we are getting accustomed to seeing record-breaking funding numbers, this one is particularly intriguing in that it highlights two simultaneous yet conflicting trends.

One is that traditional raises are increasingly being dwarfed by initial coin offerings. Data storage network Filecoin’s token sale yesterday raised over $200 million in less than 60 minutes, revealing a growing interest in decentralization.

Another is that “traditional” venture capital firms appear to be beefing up their cryptocurrency bets. Given their winner-takes-all ethos, could this point to an industry consolidation?

A more interesting question is, for how long can the two trends co-exist? Watch this space.

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Wait, there's more:

The Bitcoin Price Just Inched Up to Set Another All-Time High
The price of bitcoin reached its highest level ever on the CoinDesk Bitcoin Price Index today, climbing above $3,550 amid a period of strong gains.

Investment Platform Taps ICO Demand with Investment Product Launch
Investment platform BnkToTheFuture is expanding its service to let equity buyers tap into the growing market for initial coin offerings.

$126 Billion: The Cryptocurrency Market Just Set a New All-Time High
The total value of all cryptocurrencies has set a new all-time high, just four days after it set its previous record for market capitalization.

Enterprise Ethereum Alliance Gets to Work at 90-Member 'Town Hall' Meeting
One of the world's largest blockchain consortiums is kicking off its next phase of development.

Bank of America Has Filed for Over 20 Blockchain Patents Already
Bank of America is emerging as one of the most active banks when it comes to filing patents over claimed innovations in blockchain and cryptocurrency.

Nasdaq's Nordic Exchange Seeks to Patent Blockchain Data System
A new patent filing suggests global exchange operator Nasdaq has a particular interest in protecting blockchain-based order-matching technology.

SEC Suspends OTC-Traded Emerging Markets Investor Over ICO Concerns
The SEC has moved to suspend the trading of shares in a Texas-based company over suspicions about its planned initial coin offering.

$200 Million In 60 Minutes: Filecoin ICO Rockets to Record Amid Tech Issues
The ICO for the the blockchain-based data storage network Filecoin has raised as much as $250 million despite being beset by tech issues.

Bitcoin Exchange Coincheck Unveils $450k Startup Investment Fund
Tokyo-based cryptocurrency exchange Coincheck is launching a new investment fund.

Russia's Ministry of Health Is Launching a Blockchain Pilot
The Russian Ministry of Health is working with one of the country's state-owned banks to explore possible uses of blockchain.

$100 Million: Coinbase Raises Biggest-Ever Round for Bitcoin Startup
Coinbase has closed what is likely the largest-ever funding round by a startup building on a public blockchain and providing cryptocurrency services.

Go to CoinDesk