Coinbase Versus IRS: IRS Concedes The First Round
In what is being heralded as one of the biggest ever victories for the cryptocurrency community, the Internal Revenue Service has decided to considerably limit the scope of its investigation into customers of one of the most popular cryptocurrency exchanges in the country. The Story So Far. The latest development in this ongoing battle between Coinbase and the IRS brings as much surprise as it brings relief in the wake of Bitcoin’s slide into Bear Market territory. Not even the most optimistic supporters of the digital currency would have predicted this outcome after the agency had....
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Coinbase is rumoured to be in the midst of another funding round, attempting to raise up to $60m with a company valuation of $400m. The US-based company, which provides bitcoin wallets and merchant services, is expected to take on investment from venture capital firm DFJ and is looking to raise $40-60m, according to Re/Code. CoinDesk has contacted Coinbase, but is yet to receive a response. DFJ has declined to comment. Back in December, Coinbase raised $25m in a series B round, led by Andreessen Horowitz, bringing the total amount raised by the company to $30m. An article by TechCrunch....
The price of bitcoin has rocketed over the past week, gaining 19% over the seven days to break the $250 mark. Just before 08:00 (GMT), the price pushed beyond $300, and it was still hovering around that level at press time. The bitcoin price opened the week at $209.93 and closed seven days later at $254.51, gaining a whopping $40 over that period, according to the CoinDesk Bitcoin Price Index. Buying on the news. Two bullish announcements - both involving the bitcoin services juggernaut Coinbase - coincided with the price spike last week. This doesn't even account for a third notice from....
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. 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....
Timothy Draper, co-founder of VC firm DFJ, is putting more money into the Bitcoin ecosystem, reportedly. Coming across the wire today by way of Re/code is news that Coinbase Series C funding is being raised right now. According to sources close to the deal, Coinbase is expected to take in between $40 million and $60 million USD in fresh new capital. The new round is expected to be led by DFJ. Coinbase has previously raised $31 million USD in funding over the last few years. Since Coinbase's inception in 2012, the company has received recognition both from within and from outside the....
Coinbase announced this week that its user base had crossed the 650,000 mark. It seems the young company is on a roll, as it recently managed to secure $25m in a round of funding led by Andreessen Horowitz. Coinbase has grown more than 20-fold over the past nine months. The service started back in 2013 with just 30,000 accounts but by August it had gained over 200,000. The number of Coinbase transactions is growing even faster - up more than twenty-fold since January. User demographics. The company also shared some interesting data on its demographics. The vast majority of Coinbase users....