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Coinbase Launches Early-Stage Venture Fund (cnbc.com)
Coinbase announced today that it is launching a new incubator fund for early-stage startups. "We're going to invest off our balance sheet into crypto companies," Coinbase President and COO Asiff Hirji told CNBC's "Fast Money" Thursday. "We will invest in companies that are in the space and are aligned with our values." From the report: Profits from the fund will be "de minimis" in the scope of the entire company but the fund is already off to a $15 million start and set to grow, Hirji said. The fund's seed-stage investments, which will begin this week, will help companies and founders in the crypto and blockchain space get off the ground. It's also meant to focus on building relationships within that ecosystem, he said. In order to do that, Coinbase could be investing in its competitors.
"You may also see us invest in companies that ostensibly look competitive with Coinbase," the San Francisco-based company said in a blog post. "We're taking a long term view of the space, and we believe that multiple approaches are healthy and good." Hirji emphasized that Coinbase Ventures is searching for founders, not the next money-making cryptocurrency. "By giving them access to capital we hope that they will grow great businesses," he said. "It's not about investing in the token, it's not about trying to line up tokens that we would put on our exchange."
"You may also see us invest in companies that ostensibly look competitive with Coinbase," the San Francisco-based company said in a blog post. "We're taking a long term view of the space, and we believe that multiple approaches are healthy and good." Hirji emphasized that Coinbase Ventures is searching for founders, not the next money-making cryptocurrency. "By giving them access to capital we hope that they will grow great businesses," he said. "It's not about investing in the token, it's not about trying to line up tokens that we would put on our exchange."
Do they fund you with the Verge coins?
Browsing at +1 - no ACs, I ignore their posts. So refreshing!
Man, and the cycle just perpetuates itself..
Why XVG?
Why do you think Satoshi Nakamoto is really hiding his identity, if Bitcoin is really such a great innovation?
He is just someone does not like media/fan attention?
Or, could it be really because Bitcoin (and all cryptocurrencies followed it) are actually Ponzi Schemes?
(So he knew very well that law enforcement would come after him sooner or later?!)
If so-called cryptocurrencies are really good innovation, why they attract so many criminals/criminal activity?
Could it really be because, all cryptocurrencies themselves are scams, and that is why they attract all kinds of criminals/criminal activity?
If so-called cryptocurrencies are really currency, why no company/store can use Bitcoin as currency anymore?
Because the price of Bitcoin proved to be extremely unstable to use as a currency?
Would the result be different, if Bitcoin replaced by any other "cryptocurrency"?
Aren't all work the same way?
Or, they are not actually virtual currency but virtual investment?
But, if they are actually investment, why we need/want them?
What would happen to world economy, if people invested in virtual investments, instead of real investments?
Or, all so-called cryptocurrencies are actually just a modified (made decentralized and paying variable interest) Ponzi Schemes?
(Price of cryptocurrencies would keep increasing in the long term (by their design), so it is equivalent of paying variable interest to all long term investors.)
As more and more people invest in cryptocurrencies, it will become harder and harder to ban their trading everywhere!
All cryptocurrencies need to be banned globally before it is too late!