12 Dec '13, 5pm

Coinbase Nets $25 Million in Largest Ever Bitcoin Fundraise

Wall Street may be gearing up to enter the Bitcoin market in a big way, but Silicon Valley is already there. Bitcoin exchange and wallet service Coinbase announced today that it has raised $25 million in a Series B round led by Andreessen Horowitz, the largest fundraise ever by a Bitcoin company. San Francisco-based Coinbase is perhaps the most prominent Bitcoin operations in the United States, allowing individuals to buy and sell Bitcoin with a U.S. bank account and allowing merchants to accept the digital currency as payment. Online-dating service OKCupid is among the 16,000 merchants using Coinbase. Previously the eight-employee startup, which launched in June 2012, had raised about $6 million of investment capital. "We think Coinbase can significantly accelerate Bitcoin's proliferation, and as that happens the Internet will enter a new phase of invention and opportunit...

Full article: http://www.entrepreneur.com/article/230363

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