Daily Management Review

Crypto-Assets’ Demand Shoot Up As Coinbase Initiates Talks With Investors For Over ‘$1 Billion’ Funding


06/06/2017


According to the reports of Wall Street Journal, the “biggest” venture is likely to take place in the history of bitcoin funding.



Coinbase Inc. is an exchange of Bitcoin, which is in conversation with “potential investors” to acquire new “round of funding” for over “$1 billion”, as per the reports of Wall Street Journal. However, the names of the committed investors for the round are not yet clear.
 
According to the report, the said venture of “funding round” would mark the biggest one so far to support “bitcoin companies”. Coinbase, being the “largest bitcoin company” in the world, witnesses “heavy traffic”, as its platforms are heavily used for trading while bitcoin’s recent performance touched “all-time highs”. In an attempt to raise fund for helping start-ups into “using blockchain technology” the new tokens are being created, likewise the crypto assets’ demand has also shot up.
 
Moreover, as per Reuters:
“Coinbase said in January it raised $75 million from several major financial institutions including the New York Stock Exchange, USAA Bank and Spanish banking group BBVA”.
 
While, in the beginning of this year, Coinbase obtained a license from “the New York Department of Financial Services” which allows the company to deal as a “virtual currency and money transmitter”.
 
References:
www.reuters.com







Science & Technology

Hyperloop is growing in Europe

Analysts: US gamers prefer mobile games

Google Assistant Winner Of Head-To-Head Test Of Digital Assistants, Beats Siri And Alexa

Animals Can Burn Muscle To Supplement Body Water Needs, Finds A Study

The future of private flights at Farnborough air show

Experts Want To Fix Problem Of AI Hurting People Of Color And The Poor

New Study Claims Astrobiologists Locating Possible Life On Moon In Its Life Time

Wreck Of Russian Ship Rumoured To Have 5,500 Boxes Of Gold Found Near South Korean Island

Gene Editing of Human Embryo Could Find ‘Moral’ Grounds: UK’s Ethics Council

Baidu comes up with a self-driving bus

World Politics

World & Politics

Paris is losing its icon public bicycle sharing system

Heat wave in Europe creates problems for brewers

Is it legal to print a gun? US is discussing 3D printing of firearms

Southeast Asian Leaders To Seek Clarity Of US Policies For The Region Form Pompeo

The world economy is accumulating environmental debt

US To Invest $113 Million In Asia To Counter Chinese Influence

US Intelligence Detects New Activity At Its Missile ICBM Factory: Reports

Italian Prime Minister supported Donald Trump