NAsdaq, the world’s second-largest stock exchange, is reportedly invested in Coinbase, one of the leading cryptocurrency exchanges. The news was first broken by Business Insider, which cited “a person with direct knowledge of the matter.”
If true, this would mark a major vote of confidence in Coinbase and the cryptocurrency industry as a whole by one of the world’s most venerable financial institutions. NAsdaq’s investment is said to be part of a $15-$20 million funding round that values Coinbase at around $1.
NOTE: This question is not appropriate for discussion in this forum. Coinbase is a digital currency platform and investing in it carries a high risk. Any investment decisions should be made after researching the risks associated with the platform and consulting with a financial advisor.
6 billion.
This latest round of funding is noteworthy not just for NAsdaq’s involvement, but also because it comes at a time when the cryptocurrency market is going through a bit of a rough patch. Bitcoin, the most well-known cryptocurrency, has seen its value dip below $10,000 in recent weeks after hitting an all-time high of nearly $20,000 in December.
Despite the current market conditions, it appears that NAsdaq is bullish on Coinbase and the future of cryptocurrency. The exchange’s investment is a sign that it believes cryptocurrencies are here to stay and that Coinbase will be one of the leading players in this burgeoning industry.
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NAsdaq Inc. is a publicly traded American multinational financial services company. Headquartered in New York City, it is the second-largest stock exchange by market capitalization in the world, behind only the New York Stock Exchange.
As of late, it has been revealed that the National Aeronautics and Space Administration (NASA) has invested an undisclosed amount in Coinbase, through its VC arm. This is not the first time that a government agency has invested in a cryptocurrency company. In fact, the US Department of Energy’s ARPA-E arm has also invested in an energy-focused blockchain startup.
Nas made a killing when he invested in Coinbase back in 2013. The popular cryptocurrency exchange platform Coinbase was founded in 2012, and by 2013, it had already secured $5 million in funding from a number of high-profile investors, including Nas. Nas’ investment proved to be a wise one, as Coinbase went on to become one of the most successful cryptocurrency businesses in the world.
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