Coinbase Raises $100 Million in Series D Funding Round

Coinbase Raises $100 Million in Series D Funding Round

Cryptocurrency trading platform Coinbase has set a new record for blockchain and cryptocurrency startups by raising $100 million in its Series D funding round.

The investment was led by Silicon Valley venture capital firm Institutional Venture Partners (IVP), which has previously invested in companies such as Dropbox, GitHub, and Netflix. Other investors in the funding round included Battery Ventures, Draper Associates, Greylock Partners, Section 32, and Spark Capital.

According to statistics, cryptocurrency and blockchain startups have raised a total of $1.9 billion, with Coinbase accounting for 10% of that amount. Since its inception, Coinbase has raised over $217 million, making it one of the top five blockchain industry leaders in terms of fundraising.

The company plans to use the funding to expand its customer support and technical teams, and to establish an office for its trading exchange GDAX in New York.

In its previous Series C funding round in 2015, Coinbase raised $75 million from investors including the New York Stock Exchange and Fortune 500 company USAA.

With this latest funding round, Coinbase continues to expand and strengthen its position as a major player in the world of cryptocurrency trading.

Coinbase Series D Financing Compared to Other Blockchain Projects

Although the Series D financing of Coinbase is still lower than the $107 million of the blockchain consortium R3, due to the third batch of funds not yet received, this number will continue to rise, with an estimated total surpassing $110 million.

However, when compared to other blockchain projects that have raised funds through ICOs, Coinbase's financing ranks only fourth. According to CoinDesk's statistics, all blockchain projects that have raised funds through ICOs have exceeded $1.6 billion.

ICOs have become a new and relatively unknown way of funding, allowing many startups to raise large amounts of capital from investors with only a whitepaper and simple code. However, due to the lack of regulation, there is a risk of a bubble at any time.

In comparison, Coinbase has hundreds of employees and its subsidiary GDAX has a trading volume of $25 billion, and its ability to obtain large amounts of funding through traditional financing channels is sufficient to prove its stable market potential in the eyes of major investment institutions. However, it is worth noting that as more and more traditional venture capital firms are willing to invest in ICOs and tokens, this may indicate some changes in the blockchain financing field.

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ICO Funding Chart