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Election 2024

Investors Sound Off on Coinbase’s Record-Setting Fundraising

CoinDesk takes a look at how Coinbase's investors are framing their participation in today's record-setting fundraising.

By Pete Rizzo
AccessTimeIconJan 20, 2015 at 8:40 p.m. UTC
Updated Aug 18, 2021 at 3:35 p.m. UTC
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Election 2024 coverage presented by

Stand with crypto
coinbase-funding-shutterstock-edited_1500px
coinbase investors $75 million fundraise
coinbase investors $75 million fundraise

Bitcoin services provider Coinbase announced today that it had closed a $75m Series C funding round from a host of notable investors – to date the largest round raised by any company in the industry.

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    • The confirmation of what had been rumored to be bitcoin's largest-ever funding round inspired widespread reaction on social media, and also had a positive correlation on the CoinDesk Bitcoin Price Index.

    The price of bitcoin rose to $212.99 on the news, up from $205.15 at 14:00 UTC, the time of its publication on the Coinbase blog. A similar spike was also observable in CNY markets.

    Following the news, a number of the investors offered comment on the funding round and provided insight into the motivations behind the participation of their respective firms.

    Unsurprisingly, most framed the funding as good news for bitcoin, the industry as a whole and for the technology to spread to new markets:

    Meyer 'Micky' Malka, founder, Ribbit Capital

    Screen Shot 2015-01-20 at 3.54.49 PM
    Screen Shot 2015-01-20 at 3.54.49 PM

    Fred Wilson, co-founder, Union Square Ventures

    Screen Shot 2015-01-20 at 3.00.25 PM
    Screen Shot 2015-01-20 at 3.00.25 PM

    Jay Reinemann, executive director, BBVA Ventures

    BBVA, Coinbase
    BBVA, Coinbase

    Tom Farley, president, The New York Stock Exchange

    NYSE, Coinbase
    NYSE, Coinbase

    Tim Draper, founding partner, DFJ Growth Fund

    draper, coinbase

    Other investors including Andreessen Horowitz, DoCoMo and USAA, as well as former Citigroup CEO Vikram Pandit and former Thomson Reuters CEO Tom Glocer have yet to comment on the news.

    Images via CoinDesk

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    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. CoinDesk has adopted a set of principles aimed at ensuring the integrity, editorial independence and freedom from bias of its publications. CoinDesk is part of the Bullish group, which owns and invests in digital asset businesses and digital assets. CoinDesk employees, including journalists, may receive Bullish group equity-based compensation. Bullish was incubated by technology investor Block.one.

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