Coinbase Wants To Use Its Huge New Funding To Fix Bitcoin’s Problems

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.

The slumping bitcoin price (outmatched only by some of the other major cryptocurrencies since their early 2018 highs) has been the headline problem for the burgeoning crypto sector this year, wiping out many exciting so-called altcoins and causing woe for eager investors and traders.

But 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.”