News reaching us from a legit source reports that Coinbase, the crypto exchange and wallet firm based in San-Francisco is currently in talks with Tiger Global to finalize on a deal believed to increase the company’s net worth to $8 Billion.
Last year, the cryptocurrency exchange and wallet firm was valued at $1.5 billion but if the current negotiation going on between the two firms (Coinbase and Tiger Global) bears good fruit, it will surely increase the net worth of the company.
While the decline in crypto prices doesn’t seem to affect the valuation of Coinbase, CEO Brian Armstrong admits that the company is focusing on building “an open financial system for the world”.
The New York investment firm, Tiger Global is primarily focused on big deals in the consumer market across the globe. This partnership, however would be the first for the New York based firm in the cryptosphere.
The potential deal between these 2 companies featured some positive feedbacks on Twitter:
Quite spectacular that Coinbase, the world's largest fiat to crypto exchange, quadrupled its valuation from $1.6 billion to $8 billion within 1 year in a bear market.
It shows investors and venture capital firms really believe in the long-term growth of the crypto market.
— Joseph Young (@iamjosephyoung) October 3, 2018
— Ran NeuNer (@cryptomanran) October 3, 2018