hello folks you have reached the
cryptocurrency news portal
and today we're going to go over some
information about coinbase because uh
some big information has come across the
newswire about
coinbase and in general we've heard the
rumors they want to potentially do
an initial public offering uh late in
2020 or 2021 but this
just adds kind of fuel to the fire in
terms of this headline that we see it
says venture capital
giant and he is a giant based on his
amazing background
mark andreessen joins the coinbase board
so let's go through this together and
then i'm going to go over some
other information here in a minute it
says silicon valley venture capitalist
mark andreessen has been appointed
to the board of directors at the leading
crypto exchange coinbase
coming amid reports that the crypto
giant is preparing to go public
the appointment of mark andreessen to
the coinbase board was announced
by ceo and co-founder benjamin armstrong
that should be brian armstrong
and here's the quote as coinbase
continues on its path to growing the
cryptocurrency
economy and creating an open financial
system for the world
will look to leaders and experts from a
range of fields to help guide us
of primary importance is our board of
directors we look look to our board
members and observers
to draw from their areas of expertise to
counsel us on everything from product
development
to world-class governance practices
so the bottom line is this guy mark
andres has been around for a while in
the silicon valley
and we'll get into some of his history
here in a second
but if they're about to go do an ipo
having this
person on your board or just as an
observer kind of
gives a head head nod to all of the
other venture capitalists out there or
people that want to potentially
invest as they go into their ipo
so considered one of the crypto
industry's largest investment backers
andreessen horowitz
raised 25 million to expand coinbase's
bitcoin wallet
and merchant services back in 2013
and then march of this year the firm
secured 515 million dollars to invest in
crypto technologies
so andreessen horowitz where
andreessen's from they invested about
seven years ago and kind of a venture
round
amazing so another quote an innovator
and creator he is one of the few to
pioneer a software category
used by more than a billion people and
one of even fewer to establish
multi-billion dollar companies
mark co-created the highly influential
mosaic
internet browser and co-founded netscape
wow that is an old-school name he also
co-founded
loud cloud which as opsware sold to
hewlett-packard for 1.6 billion dollars
he later served on the board of
directors for hilah packard from 2008 to
2018.
uh welcome to the coinbase boardroom
alongside
mark andreessen after a board reshuffle
that saw chris dixon and barry schuller
stepping down is google veteran
door dash executive goku rajam
so both indreeson and rajon bring a
wealth of experience
that will put to use to the benefit of
the company
our customers and the broader community
coinbase was last valued at eight
billion dollars now that was in 2018
in that funding round so i'm sure
they're worth a lot more at this point
as they do their
get ready for the ipo so let me know in
the comments section below what you
think about that
i'll i have another video that i did
about coinbase's
potential ipo that i'll put in the
comments section below as well all right
so going on here this is just a little
more information as it says
coinbase shuffles their board as mark
andreessen joins as observer
so they announced on monday so this move
comes amid chatter that the san
francisco-based cryptocurrency
giant which was valued at eight billion
dollars in late 2018. there you go
so almost two years ago they were valued
at 8 billion
is preparing to go public in the coming
months the addition of andreessen who is
joining as a board observer is notable
a founder of the vc firm andreessen
horowitz he was an early advocate for
cryptocurrency and has been a long time
advisor to silicon valley ceos
including facebook's mark zuckerberg
and here's the quote since investing in
2013
i've seen coinbase grow from an early
stage startup
into one of the most trusted and
respected companies in crypto said
andreessen in a statement
coinbase is the company that will help
forge this future
and help bring crypto into the
mainstream
the future of coinbase including any ipo
is likely to be a bellwether for the
crypto industry as a whole
that's so true so once once coinbase
does their ipo i'm sure that ripple is
going to do an ipo as well
there'll be some other companies do ipos
and they'll just give more fuel for the
whole cryptocurrency space and when you
see these companies do their ipos
they'll start be being talked about on
forbes and cnbc
or the average joe will really start
paying attention
so while the industry has grown
enormously the value of bitcoin in
circulation is now worth over 200
billion dollars
and made inroads into traditional
finance crypto is not entirely shaken
its outlaw reputation which i always
think is funny
because look at all the things that are
done with cash as well
from gambling to prostitution etc but
they always kind of
focus on bitcoin for nefarious things
well you can do that with cash too
and also back in july bitcoin made
international headlines when hackers
hijacked the twitter accounts of elon
musk bill gates and others to solicit
crypto donations yep hackers do that
with
cash too and ask for they'll ask for
gift certificates and gift cards as well
such incidents however may be declining
in significance as more prominent
individuals and institutions embrace
cryptocurrencies
and its underlying blockchain technology
one notable milestone came
earlier this year when it was reported
that jpmorgan chase whose ceo
jamie dimon once called bitcoin a fraud
is now supplying banking services to
coinbase see they're all coming aboard
folks so let me know what you think in
the comments section below
uh so coinbase has been tight-lipped
about the timing or nature of a future
ipo
but many tech watchers expected to
follow airbnb
palantir slack and a parade of other
so-called
unicorns or private companies valued at
over a billion dollars
which have recently gone public or filed
to do so
a source close to the company speculated
that coinbase could wait
until mid 2021 to announce an ipo in
part because the company is exploring
the use of blockchain based tokens as
part of the offering and it's awaiting
regulatory approval
to do so and of course coinbase declined
to comment on that speculation smart on
them
all right so let's keep going here so
this is just coinbase's wiki page
just quick little overview coinbase is a
digital currency exchange
headquartered in san francisco they
broke our exchanges bitcoin bitcoin cash
ethereum ethereum classic litecoin tezos
xrp and many others with fiat currencies
approximately 32 countries and bitcoin
transactions and storage in 190
countries worldwide so i'll just go over
this real quick
coinbase was founded in june of 2012 by
brian armstrong
and fred ursum blockchain info
co-founder ben reeves
was part of the original founding team
but later parted ways with armstrong due
to a difference
in how the coinbase wallet should
operate the remaining founding team
enrolled in the summer 2012
y combinator startup incubator program
and in october of 2012 the company
launched the services to buy and sell
bitcoin through um back
transfers bank transfers in may of 2013
the company received a 5 million dollar
series a
investment led by fred wilson from the
venture capital firm union square
ventures
then in december of 2013 the company
received a 25 million dollar investment
from the venture capital firm
andreessen horowitz union square
ventures and rivet capital there's
andreessen horowitz back in 2013
and now mark andreessen joins the board
as an observer it all comes full circle
folks
all right coinbase ceo so brian
armstrong outlines the biggest barriers
to mass adoption
of bitcoin and crypto a lot of these we
already know i know regulations
is the big one i talk about it on this
channel all of the time that the
regulatory clarity that's necessary in
the united states
we need to move forward with regulatory
clarity or one big institutions and
banks
won't get involved we need the
appropriate guard rails in place
and if you don't the capital is going to
start fleeing to other countries
so chief executive of crypto exchange
coinbase
sums up the top hurdles to widespread
adoption of bitcoin and cryptocurrency
in a podcast with investor patrick
o'shaughnessy
brian armstrong shares what he believes
to be one of the biggest thorns on the
side of the crypto industry
and his quote is i think there are
challenges just in terms of scalability
usability and then privacy and security
on these blockchains
if we go from dial up to broadband and
all those kinds of things
that will be a huge unlock armstrong
also emphasizes the need for
clear regulatory frameworks to catalyze
wider crypto adoption here here i
completely agree
and he says there's definitely some
regulatory component to it right now
there are a lot of startups that are
trying to be created
a lot of the regulatory environment is
still unclear for them
about is this a security what kind of
security regulations
might we trip up if you do this and then
so there's all these kinds of different
exemptions and stuff that people are
trying to jump through hoops
to try to make it work the coinbase head
also mentions
that the crypto exchange is working on a
project to
remove some of the challenges crypto
startups face
as they navigate through token issuance
custody and governance we're going to go
through this a little more
and the quote is so we're trying to
think about how we at coinbase can help
we're working on a project we'll
probably call it coinbase launch
or something like that but it's a way
for anyone who wants to do a crypto
startup to come in and say all right
i want to issue a token maybe i want to
raise money
maybe i just want to use it to build my
community and just hand hold people
through that process and help them with
custody of it help them create the smart
contracts
help them with the governance issues
that could be a huge unlock for the
crypto economy as well
to get a thousand new crypto startups
built like that here here whatever helps
startups get going and that will just
open up the entrepreneur spirit
all right this goes into it a little
more it says coinbase's ceo confirms
development of a service for launching
tokens
coinbase ceo brian armstrong has
confirmed that the exchange operator is
working
on an initial exchange offering ieo like
service
months after first hinting at such plans
last year in a podcast hosted back in
mid-august with patrick o'shaughnessy
the ceo of oshana nessie asset
management
armstrong said coinbase is working on a
product called coinbase launch or
something like that which we just went
over
it's a way for anybody who wants to do a
crypto startup to come in and say all
right i want to issue a token so we just
went over that
but here it says he went on to say that
the product can be seen as a combination
of
stripe atlas a platform for formula
company
an angel list a website for startups
angel investors
and job seekers looking to work at
startups
overall the coinbase launch product
would be aimed
at expanding the adoption of cryptos at
armstrong it could be a huge
unlock for the crypto economy as well to
get a thousand new startups built just
like that here here thanks again
coinbase and brian armstrong all right
so
next here that was the same thing
so i thought this was just interesting
it says unit swaps daily volume just
over to coinbase by more than 80 million
this isn't anything about coinbase or
swipe at them it's just that more and
more companies are getting out there
they're getting out there and just doing
very well for themselves so that's all i
want to do here is just talk about
units swap their daily volume just over
to coinbase so here here
that's what the entrepreneurial spirit
will do and just competition
when we're talking about coinbase and
this in this video but hey
hats off to uniswap as well um check
this out says silo
explodes on coinbase pro listing
announcement
celo is up more than 50 in less than day
after coinbase pro
listed it so the major u.s currency
exchange coinbase pro has announced
it will list the native token of
blockchain platform
silo other silo markets have responded
enthusiastically
with the coin gaining roughly 55 percent
over both usd and btc
over the past 24 hours as see lo
rocketed into new all-time highs
above two dollars and 70 cents so that
was just showing the power of coinbase
um and that's why i wanted to bring that
up the last thing i want to go over
today is not coinbase related it's just
nasa is exploring blockchain technology
that could help power
mission to saturn's icy moon so you have
all these
real world use cases that are happening
then you have all these moon shots this
is very exciting
so nasa is looking at a blockchain
solution that can help power the space
agency's mission to the saturn's
ic moon titan so we won't go over that
you can pause the video if you want and
read that yourself
but just more and more excitement in the
crypto space and the blockchain space
and more forward momentum for the space
so let me know in the comments section
below
what you think all right so thank you
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