Major U.S. crypto exchange and wallet provider Coinbase has raised $300 million in a fresh funding round that brings its post-money valuation to $8 billion, according to an official blog post published today, Oct. 30. The Series E equity financing round was reportedly led by investment firm Tiger Global Management, with participation from a host of backers well-known for their investments in the crypto space, such as Y Combinator Continuity, Wellington Management, Andreessen Horowitz, and Polychain, among others. According to Coinbase, the funds will be used to “accelerate” the adoption of cryptocurrencies, with plans to build infrastructure to support regulated …
Multiple Ivy League and other prestigious U.S. universities are said to have made investments into “at least” one cryptocurrency fund. The report was published by the technology news site Information Wednesday, Oct. 10. Citing an unnamed source, the Information reported that the multi-billion endowments of Harvard University, Stanford University, Dartmouth College, Massachusetts Institute of Technology (MIT), and the University of North Carolina had all invested capital in the crypto space. This is “a sign of the asset class’ growing acceptance among institutional investors,” the source said. Harvard’s endowment is reported to have hit $39.2 billion during the fiscal year 2018, …
An executive at the Ethereum blockchain firm ConsenSys is launching a new blockchain-oriented investment firm, Aligned Capital. Sam Cassatt, the chief strategy officer (CSO) at ConsenSys, announced that the firm will be seeking to raise $50 million for its first fund in an announcement on Nov. 15. Cassatt, who has been at the firm for five years, will continue to serve as an advisor to ConsenSys while working full-time as a founding managing partner at Aligned Capital. Apart from blockchain, Aligned Capital will invest in safe AI and innovative healthcare According to the announcement, Aligned Capital will be investing in …
Major American crypto exchange Coinbase, asset custodian Kingdom Trust and alternative assets investment firm Regal Assets have begun offering cryptocurrency-based individual retirement and 401(K) accounts in the United States. An individual retirement account (IRA) is an investment account that enables an individual to save money for retirement in a tax-deferred way, while a 401(K) represents a qualified retirement savings plan offered by an employer. In a Nov. 13 press release, the firms said that the new offering will give investors access to more than 30 digital currencies in the industry directly through Coinbase, with insurance protection provided by British insurance …
Bitcoin (BTC), the world’s most-valued cryptocurrency, has replaced gold as an inflation hedge for young investors, according to Wharton’s finance professor. Gold’s performance was “disappointing” in 2021, Wharton School’s finance professor Jeremy Siegel said in a CNBC Squawk Box last Friday. On the other hand, BTC has been increasingly emerging as an inflation hedge among younger investors, Siegel argued: “Let’s face the fact, I think Bitcoin as an inflation hedge in the minds of many of the younger investors has replaced gold. Digital coins are the new gold for the millennials. I think that the story of gold is a …