Here's How Coinbase Is Transforming the Digital Economy

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Coinbase  (COIN) - Get Report is one of the most popular cryptocurrency exchanges in the world.  As its name suggests, it functions as a middleman in the crypto market.  The Coinbase platform allows investors to buy and sell a wide range of crypto coins from Bitcoin to Ethereum.

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Coinbase History:

2011 Coinbase is the brainchild of former Airbnb founder Brian Armstrong. It got its start in 2011.  

2012. Armstrong partnered with Fred Ehrsam, a former Goldman Sachs trader.  The company received a $5 million investment in 2013, by Union Square Ventures.

2014. The company reached one million users and acquired a blockchain service, Blockr.  The same year, they partnered with Time Inc., Dell, Overstock, Expedia, and Dish Network. 

2015. Coinbase began offering services in Canada.

2017. The cryptocurrency trading platform became licensed to trade in Etherium and Litecoin in 2017.  

2018. Amazon Cloud Exec, Tim Wagner joined the company as President of engineering in 2018.  Coinbase acquired blockchain intelligence platform, Neutrino in 2019 and the company’s non-U.S. revenue grew 20%.  

2020. During the Coronavirus pandemic in 2020, the company became “remote-first” and renounced its headquarters.  

2021. Coinbase went public on April 14, 2021.  They became the largest cryptocurrency exchange in the U.S. and were valued at approximately $47 billion. 

Editor's note: The video above is part of TheStreet's Behind the Label video series. It was created by TheStreet's Kevin Levick.

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