Crypto exchange Coinbase is now valued at $8 billion after a big funding boost

One of the most popular cryptocurrency exchanges, the U.S.-based Coinbase, announced on Tuesday that it has raised $300 million in a new round of financing. 

The round, led by Tiger Global Management, values the company at more than $8 billion. 

Y Combinator Continuity, Wellington Management, Andreessen Horowitz and Polychain also contributed to the funding round, among others. 

Coinbase says it will use the funds to accelerate global expansion, introduce more crypto assets to its platform and continue development of utility applications in the space, such as its recently announced USDC stablecoin and the Coinbase Wallet. Finally, the company plans to bring more institutional funds into the crypto space.  Read more…

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