Coinbase

Coinbase

Coinbase is a digital asset exchange company headquartered in San Francisco, California. It operates exchanges of Bitcoin, Bitcoin Cash, Ethereum, and Litecoin.

About

Coinbase was founded in June 2012 by Brian Armstrong (CEO) and Fred Ehrsam. It enrolled in the 2012 Summer Y Combinator startup incubator program. In October 2012, the company launched a marketplace to buy and sell Bitcoin through bank transfers. Coinbase allows Bitcoin, Bitcoin Cash, Ethereum, and Litecoin trading on their platform. As of 2020, the company has more than 1,000 employees and more than 35 million users.

Products

The company's platform offers various products to those looking to trade cryptocurrencies for individuals and businesses.

Coinbase

Its main product with the same name as the company is the platform where users can buy, sell, and use cryptocurrencies. Cryptocurrencies trading on the Coinbase platform include:

Bitcoin

Ethereum

XRP

Bitcoin Cash

Litecoin

Chainlink

EOS

Tezos

Stellar Lumens

Dai

Cosmos

Yearn.finance

Dash

Ethereum Classic

Uniswap

Compound

Basic Attention Token

Celo

Algorand

0x

Loopring

Kyber Network

Augur

Band Protocol

Orchid

Numeraire

Wallet

The wallet product that is used for storing cryptocurrencies. It also allows for transfers of cryptocurrencies between users.

USD Coin

USD coin users can exchange United States dollars (USD) for a cryptocurrency with a stable price equal to that of a USD.

Earn

Earn gives users the opportunity to educate themselves about cryptocurrencies through videos and quizzes. Users can receive crypto in their Coinbase wallet upon completion of the company's quizzes.

Pro

For advanced traders, Coinbase offers a Pro account that includes an API, insurance protection, and fees that scale to transaction volume. Most Coinbase accounts can be upgraded to a Pro account; however, some activities are limited based on the geographic area a user resides in.

For businesses
  • Commerce. A no-fee platform for business to accept cryptocurrencies as payments. It has integrations with popular e-commerce platforms Woocommerce and Shopify.
  • Custody. Operating as a separate entity of Coinbase, the Custody services supports asset holding for institutional investors. It also integrates with Coinbase Pro. It is NYDFS-regulated.
  • Ventures. Coinbase invests in startups and entrepreneurs, particularly those with a focus on stablecoin-based ideas for "the unbanked" as well as "wealth preservation, global payments, financial services for crypto companies, [and ]developer tools," among other areas of interest.

Timeline

January 28, 2021
Coinbase announces its intent to go public via a direct listing
December 28, 2020
Coinbase suspends trading in XRP after the U.S. Securities and Exchange Commission(SEC) charged an associated blockchain firm, Ripple,with conducting a $1.3 billion unregistered securities offering.
December 17, 2020
Coinbase announces that it has filed confidentially to go public.
May 17, 2019
Coinbase Custody reported $1 billion in crypto under management and 70 participating institutions.
December 21, 2018
Coinbase raises a $22,000,000 private equity from Chainfund Capital, Fundamental Labs, Manhattan Ventures Partners and True Capital Management.
October 30, 2018
Coinbase raises $300 million in a funding round led by Tiger Global Management, valuing the firm at more than $8 billion.
October 30, 2018
Coinbase raises a $300,000,000 series E round from Andreessen Horowitz, Kingsley Advani, Manhattan Ventures Partners, Polychain Capital, Tiger Global Management and Wellington Management.
October 2018
Coinbase raises extensive known capital while private, including a $300 million Series E.
May 23, 2018
Coinbase acquires Paradex

Coinbase plans to use Paradex' cryptocurrency trading platform to allow its customers to trade hundreds of cryptocurrency tokens. The terms of the acquisition were not disclosed.

April 16, 2018
Coinbase acquires Earn.com, hires Balaji Srinivasan as CTO

The price of the deal is not initially made public upon announcement of the acquisition, however a Coindesk report suggested a potential deal of over $100 million. Coinbase also hires Earn.com CEO Balaji Srinivasan as their first CTO.

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Funding rounds

Funding round
Funding type
Funding round amount (USD)
Funding round date
Investment
Coinbase series E funding round
300,000,000
October 30, 2018
10 Results
Results per page:
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Products

Product
Description
Launch date
Industry
Website
Coinbase Commerce

Coinbase Commerce is a product from Coinbase Inc. allowing merchants to integrate cryptocurrency payments into their website.

Coinbase Wallet, formerly Toshi, is a mobile phone application allowing users to browse Ethereum decentralized applications (dApp).

2 Results
Results per page:
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Acquisitions

Acquisition
Acquired company
Acquisition amount (USD)
Date announced
Acquisition of Blockspring by Coinbase
January 14, 2019
1 Result
Results per page:
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People

Name
Role
LinkedIn

Adam Draper

Investor

Adam White

Employee

Adrian Macneil

Employee

Aiden Lloyd

Employee

Alex Ianus

Employee

Alexandra Dela Torre

Employee

Alexis Ohanian

Investor

Alvin Lee

Employee

Andy Dunn

Investor

Annika Sohlström

Employee

Anthony Shephard

Employee

Antonio Juliano

Employee

Ashley Putnam

Employee

Aurora Harshner

Employee

Barry Kwok

Employee

Bart Stephens

Investor

Ben Jennings

Employee

Bobby Goodlatte

Investor

Boris Silver

Investor

Bradley J Larson

Employee

Brett Gilbert

Employee

Brian Armstrong

Founder

Brian Cartmell

Investor

Brian Watson

Investor

Catherine Waite

Employee

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Further reading

Title
Author
Link
Type
Date

Coinbase Strategy Teardown: How Coinbase Grew Into The King Midas Of Crypto Doing $1B In Revenue

Web

January 25, 2018

Coinbase: The Heart of the Bitcoin Frenzy

Nathaniel Popper

Web

December 7, 2017

Documentaries, videos and podcasts

Title
Date
Link

The Coinbase Mission, Vision & Strategy

July 31, 2019

Companies

Company
CEO
Location
Products/Services

News

Title
Author
Date
Publisher
Description
Isabelle Lee
April 10, 2021
markets.businessinsider.com
Insider compiled views from eight experts on what they see for the cryptocurrency exchange ahead of its eagerly-awaited public listing next week.
Matthew Fox
April 9, 2021
markets.businessinsider.com
Despite mounting evidence that inflation is on the rise, Fed Chairman Jerome Powell continues to reiterate his view that any inflation is temporary.
Matthew Fox
April 9, 2021
Business Insider
Despite mounting evidence that inflation is on the rise, Fed Chairman Jerome Powell continues to reiterate his view that any inflation is temporary.
Carla Mozée
April 9, 2021
markets.businessinsider.com
Coinbase is the largest cryptocurrency exchange in the US. Chesnot/Getty Images New Constructs CEO David Trainer said his calculations point t...
Michael Haley
April 9, 2021
Business Insider
On the verge of an anticipated direct listing, Coinbase CEO Brian Armstrong is selling an NFT song with DJ DAVI called 'Never Give Up."
Matthew Fox
April 9, 2021
markets.businessinsider.com
Producer price index data for the month of March shows that inflation is on the rise amid a reopening of the US economy.
Shalini Nagarajan
April 9, 2021
markets.businessinsider.com
Kraken co-founder and CEO, Jesse Powell. Kraken Bitcoin Exchange/YouTube California-based Kraken could go public next year after seeing an expl...
Saniya More
April 8, 2021
The Block
Coinbase has joined the Defi Alliance, an organization that supports decentralized finance (DeFi) startups, the crypto exchange company announced Thursday.
Victor Chatenay
April 8, 2021
Business Insider
Coinbase earned more in Q1 than all of 2020--good news for its IPO next week, which, should it be successful.
Shawn Knight
April 7, 2021
TechSpot
In the three-month period ending March 31, 2021, Coinbase said it generated estimated revenue of $1.8 billion with a net income of approximately $730 million to $800 million.
Isabelle Lee
April 7, 2021
markets.businessinsider.com
Federal Reserve officials agreed to keep policies in place during its last meeting, even as the economy showed clear signs of a rebound.
Michael McSweeney
April 6, 2021
The Block
Crypto exchange unicorn published its preliminary financial results for the first quarter of 2021 on Tuesday.
Ryan Todd
April 7, 2021
The Block
The Block Research quick takes from Coinbase's 1Q'21 Earnings Update
Saniya More
April 7, 2021
The Block
Armstrong produced the three tracks with DJ DAVI after taking up electronic music composition during the pandemic.
Alex Wilhelm
April 6, 2021
TechCrunch
In the first quarter of 2021, American consumer cryptocurrency trading giant Coinbase grew sharply, generating strong profits at the same time. For Coinbase, the disclosure of its preliminary Q1 2021 results comes a week ahead of its direct listing, an event that will see the company begin to trade publicly. As it is both cash-rich [...]
Anthony Ha
April 2, 2021
TechCrunch
Apple adds classic titles to Apple Arcade, Microsoft experiences an outage and Coinbase is going public. This is your Daily Crunch for April 2, 2021. The big story: Apple Arcade expands with classic games Until now, Apple's game subscription service was limited to exclusive new titles, but today it's introducing two new categories: App Store [...]
Alex Wilhelm
April 1, 2021
TechCrunch
Today Coinbase, an American cryptocurrency trading platform and software company, said that it will begin to trade via a direct listing on April 14th. In a separate release the company also said that it will provide a financial update on April 6th, after the close of trading. Coinbase's impending public debut comes at an interesting [...]
Josh Scott
March 29, 2021
BetaKit
Welcome to the FinTech Times, a weekly newsletter covering the biggest FinTech news from around the globe.
Walter Thompson
March 26, 2021
TechCrunch
Our reporting team watched more than 300 pitches over 8 hours at YC Demo Day and made a list of their favorite startups.
Alex Wilhelm
March 25, 2021
TechCrunch
What would happen to Robinhood and its cohorts if the apparent cooling in consumer trading demand continues? Let's talk about it.
SHOW MORE

References

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