Bitcoin and cryptocurrency seem to have gained more problems than solutions so far this year, but now the San Francisco-based bitcoin exchange and wallet provider Coinbase wants to use its huge new funding round (valuing the startup at a staggering $8 billion) to solve many of those big issues. ARTICLE CONTINUES AFTER ADVERTISEMENTBut that a free-falling bitcoin price is a symptom of the cryptocurrency sector's wider problems — and Coinbase, which has today unveiled a fresh $300 million funding round, wants to use that cash to address the root of bitcoin's problems and "accelerate the adoption of cryptocurrencies and digital assets." Coinbase, which has previously said it wants to become "the Google of crypto", identified four things it wants to do with its new cash pile. Coinbase has meanwhile been praised for bringing some of the biggest tech investors and venture capitalists to the world of bitcoin. This funding round was led by Tiger Global Management, with participation from Y Combinator Continuity, Wellington Management, Andreessen Horowitz, and Polychain.

Source: Forbes October 30, 2018 17:03 UTC