Report: Coinbase Negotiation Could Value Crypto Exchange at $8 Billion

San Francisco-based cryptocurrency exchange and wallet service Coinbase is finishing negotiations that would value the company at $8 billion, technology news site Recode reports Oct. 2.Citing anonymous sources familiar with the matter, Recode states that Coinbase is in talks with Tiger Global and its shareholders regarding a possible $500 million investment.

The sources reportedly said that Coinbase would add $250 million to its treasury, while another $250 billion could be slated for buying out existing investors.

"Here's the poster child of the crypto space worth $8 billion - that's a real company, and Tiger's not a flake of an investor. These are smart, savvy guys."

According to CNBC, a deal with Tiger Global would make Coinbase one of the most highly valued startups in the U.S. Last year, following a series D funding round led by IVP, with participation from Section 32, Draper Associates, and others, Coinbase was worth an estimated $1.6 billion.

Over the past year, Coinbase has moved quickly to expand its business on multiple fronts.

In May, the exchange announced the launch of four new products which aim to "Unlock $10 billion of institutional investor money sitting on the sideline."

Recently, Coinbase introduced a new product called "Coinbase Bundle," which it purports will simplify the crypto trading process.

Coinbase Bundles is a basket of five cryptocurrencies supported on Coinbase - Bitcoin, Bitcoin Cash, Ethereum, Litecoin, and Ethereum Classic - and purchased in proportion to their market capitalization in U.S. dollars.

Coinbase has also on-boarded a host of talent from traditional financial institutions as well as big name tech companies like Facebook, Microsoft, Amazon, and Google.

Today, Coinbase announced that Chris Dodds, a member of the board at Charles Schwab, would be joining the exchange's board to contribute to the Coinbase's expansion in terms of its financial services capabilities.