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Venture Capital Giant Marc Andreessen Joins Coinbase Board. Crypto space momentum! - YouTube
Channel: The Cryptocurrency News Portal
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hello folks you have reached the
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cryptocurrency news portal
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and today we're going to go over some
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information about coinbase because uh
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some big information has come across the
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newswire about
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coinbase and in general we've heard the
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rumors they want to potentially do
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an initial public offering uh late in
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2020 or 2021 but this
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just adds kind of fuel to the fire in
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terms of this headline that we see it
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says venture capital
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giant and he is a giant based on his
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amazing background
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mark andreessen joins the coinbase board
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so let's go through this together and
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then i'm going to go over some
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other information here in a minute it
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says silicon valley venture capitalist
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mark andreessen has been appointed
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to the board of directors at the leading
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crypto exchange coinbase
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coming amid reports that the crypto
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giant is preparing to go public
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the appointment of mark andreessen to
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the coinbase board was announced
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by ceo and co-founder benjamin armstrong
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that should be brian armstrong
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and here's the quote as coinbase
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continues on its path to growing the
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cryptocurrency
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economy and creating an open financial
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system for the world
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will look to leaders and experts from a
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range of fields to help guide us
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of primary importance is our board of
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directors we look look to our board
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members and observers
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to draw from their areas of expertise to
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counsel us on everything from product
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development
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to world-class governance practices
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so the bottom line is this guy mark
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andres has been around for a while in
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the silicon valley
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and we'll get into some of his history
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here in a second
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but if they're about to go do an ipo
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having this
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person on your board or just as an
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observer kind of
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gives a head head nod to all of the
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other venture capitalists out there or
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people that want to potentially
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invest as they go into their ipo
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so considered one of the crypto
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industry's largest investment backers
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andreessen horowitz
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raised 25 million to expand coinbase's
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bitcoin wallet
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and merchant services back in 2013
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and then march of this year the firm
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secured 515 million dollars to invest in
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crypto technologies
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so andreessen horowitz where
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andreessen's from they invested about
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seven years ago and kind of a venture
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round
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amazing so another quote an innovator
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and creator he is one of the few to
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pioneer a software category
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used by more than a billion people and
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one of even fewer to establish
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multi-billion dollar companies
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mark co-created the highly influential
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mosaic
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internet browser and co-founded netscape
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wow that is an old-school name he also
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co-founded
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loud cloud which as opsware sold to
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hewlett-packard for 1.6 billion dollars
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he later served on the board of
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directors for hilah packard from 2008 to
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2018.
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uh welcome to the coinbase boardroom
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alongside
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mark andreessen after a board reshuffle
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that saw chris dixon and barry schuller
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stepping down is google veteran
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door dash executive goku rajam
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so both indreeson and rajon bring a
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wealth of experience
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that will put to use to the benefit of
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the company
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our customers and the broader community
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coinbase was last valued at eight
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billion dollars now that was in 2018
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in that funding round so i'm sure
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they're worth a lot more at this point
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as they do their
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get ready for the ipo so let me know in
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the comments section below what you
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think about that
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i'll i have another video that i did
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about coinbase's
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potential ipo that i'll put in the
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comments section below as well all right
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so going on here this is just a little
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more information as it says
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coinbase shuffles their board as mark
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andreessen joins as observer
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so they announced on monday so this move
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comes amid chatter that the san
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francisco-based cryptocurrency
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giant which was valued at eight billion
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dollars in late 2018. there you go
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so almost two years ago they were valued
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at 8 billion
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is preparing to go public in the coming
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months the addition of andreessen who is
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joining as a board observer is notable
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a founder of the vc firm andreessen
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horowitz he was an early advocate for
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cryptocurrency and has been a long time
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advisor to silicon valley ceos
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including facebook's mark zuckerberg
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and here's the quote since investing in
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2013
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i've seen coinbase grow from an early
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stage startup
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into one of the most trusted and
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respected companies in crypto said
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andreessen in a statement
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coinbase is the company that will help
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forge this future
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and help bring crypto into the
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mainstream
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the future of coinbase including any ipo
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is likely to be a bellwether for the
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crypto industry as a whole
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that's so true so once once coinbase
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does their ipo i'm sure that ripple is
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going to do an ipo as well
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there'll be some other companies do ipos
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and they'll just give more fuel for the
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whole cryptocurrency space and when you
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see these companies do their ipos
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they'll start be being talked about on
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forbes and cnbc
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or the average joe will really start
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paying attention
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so while the industry has grown
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enormously the value of bitcoin in
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circulation is now worth over 200
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billion dollars
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and made inroads into traditional
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finance crypto is not entirely shaken
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its outlaw reputation which i always
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think is funny
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because look at all the things that are
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done with cash as well
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from gambling to prostitution etc but
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they always kind of
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focus on bitcoin for nefarious things
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well you can do that with cash too
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and also back in july bitcoin made
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international headlines when hackers
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hijacked the twitter accounts of elon
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musk bill gates and others to solicit
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crypto donations yep hackers do that
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with
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cash too and ask for they'll ask for
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gift certificates and gift cards as well
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such incidents however may be declining
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in significance as more prominent
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individuals and institutions embrace
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cryptocurrencies
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and its underlying blockchain technology
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one notable milestone came
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earlier this year when it was reported
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that jpmorgan chase whose ceo
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jamie dimon once called bitcoin a fraud
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is now supplying banking services to
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coinbase see they're all coming aboard
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folks so let me know what you think in
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the comments section below
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uh so coinbase has been tight-lipped
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about the timing or nature of a future
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ipo
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but many tech watchers expected to
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follow airbnb
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palantir slack and a parade of other
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so-called
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unicorns or private companies valued at
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over a billion dollars
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which have recently gone public or filed
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to do so
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a source close to the company speculated
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that coinbase could wait
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until mid 2021 to announce an ipo in
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part because the company is exploring
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the use of blockchain based tokens as
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part of the offering and it's awaiting
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regulatory approval
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to do so and of course coinbase declined
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to comment on that speculation smart on
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them
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all right so let's keep going here so
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this is just coinbase's wiki page
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just quick little overview coinbase is a
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digital currency exchange
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headquartered in san francisco they
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broke our exchanges bitcoin bitcoin cash
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ethereum ethereum classic litecoin tezos
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xrp and many others with fiat currencies
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approximately 32 countries and bitcoin
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transactions and storage in 190
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countries worldwide so i'll just go over
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this real quick
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coinbase was founded in june of 2012 by
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brian armstrong
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and fred ursum blockchain info
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co-founder ben reeves
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was part of the original founding team
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but later parted ways with armstrong due
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to a difference
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in how the coinbase wallet should
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operate the remaining founding team
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enrolled in the summer 2012
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y combinator startup incubator program
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and in october of 2012 the company
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launched the services to buy and sell
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bitcoin through um back
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transfers bank transfers in may of 2013
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the company received a 5 million dollar
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series a
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investment led by fred wilson from the
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venture capital firm union square
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ventures
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then in december of 2013 the company
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received a 25 million dollar investment
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from the venture capital firm
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andreessen horowitz union square
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ventures and rivet capital there's
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andreessen horowitz back in 2013
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and now mark andreessen joins the board
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as an observer it all comes full circle
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folks
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all right coinbase ceo so brian
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armstrong outlines the biggest barriers
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to mass adoption
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of bitcoin and crypto a lot of these we
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already know i know regulations
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is the big one i talk about it on this
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channel all of the time that the
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regulatory clarity that's necessary in
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the united states
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we need to move forward with regulatory
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clarity or one big institutions and
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banks
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won't get involved we need the
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appropriate guard rails in place
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and if you don't the capital is going to
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start fleeing to other countries
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so chief executive of crypto exchange
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coinbase
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sums up the top hurdles to widespread
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adoption of bitcoin and cryptocurrency
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in a podcast with investor patrick
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o'shaughnessy
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brian armstrong shares what he believes
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to be one of the biggest thorns on the
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side of the crypto industry
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and his quote is i think there are
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challenges just in terms of scalability
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usability and then privacy and security
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on these blockchains
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if we go from dial up to broadband and
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all those kinds of things
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that will be a huge unlock armstrong
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also emphasizes the need for
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clear regulatory frameworks to catalyze
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wider crypto adoption here here i
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completely agree
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and he says there's definitely some
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regulatory component to it right now
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there are a lot of startups that are
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trying to be created
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a lot of the regulatory environment is
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still unclear for them
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about is this a security what kind of
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security regulations
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might we trip up if you do this and then
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so there's all these kinds of different
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exemptions and stuff that people are
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trying to jump through hoops
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to try to make it work the coinbase head
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also mentions
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that the crypto exchange is working on a
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project to
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remove some of the challenges crypto
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startups face
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as they navigate through token issuance
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custody and governance we're going to go
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through this a little more
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and the quote is so we're trying to
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think about how we at coinbase can help
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we're working on a project we'll
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probably call it coinbase launch
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or something like that but it's a way
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for anyone who wants to do a crypto
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startup to come in and say all right
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i want to issue a token maybe i want to
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raise money
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maybe i just want to use it to build my
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community and just hand hold people
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through that process and help them with
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custody of it help them create the smart
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contracts
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help them with the governance issues
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that could be a huge unlock for the
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crypto economy as well
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to get a thousand new crypto startups
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built like that here here whatever helps
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startups get going and that will just
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open up the entrepreneur spirit
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all right this goes into it a little
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more it says coinbase's ceo confirms
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development of a service for launching
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tokens
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coinbase ceo brian armstrong has
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confirmed that the exchange operator is
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working
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on an initial exchange offering ieo like
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service
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months after first hinting at such plans
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last year in a podcast hosted back in
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mid-august with patrick o'shaughnessy
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the ceo of oshana nessie asset
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management
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armstrong said coinbase is working on a
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product called coinbase launch or
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something like that which we just went
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over
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it's a way for anybody who wants to do a
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crypto startup to come in and say all
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right i want to issue a token so we just
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went over that
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but here it says he went on to say that
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the product can be seen as a combination
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of
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stripe atlas a platform for formula
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company
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an angel list a website for startups
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angel investors
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and job seekers looking to work at
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startups
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overall the coinbase launch product
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would be aimed
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at expanding the adoption of cryptos at
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armstrong it could be a huge
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unlock for the crypto economy as well to
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get a thousand new startups built just
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like that here here thanks again
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coinbase and brian armstrong all right
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so
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next here that was the same thing
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so i thought this was just interesting
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it says unit swaps daily volume just
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over to coinbase by more than 80 million
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this isn't anything about coinbase or
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swipe at them it's just that more and
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more companies are getting out there
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they're getting out there and just doing
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very well for themselves so that's all i
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want to do here is just talk about
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units swap their daily volume just over
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to coinbase so here here
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that's what the entrepreneurial spirit
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will do and just competition
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when we're talking about coinbase and
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this in this video but hey
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hats off to uniswap as well um check
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this out says silo
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explodes on coinbase pro listing
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announcement
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celo is up more than 50 in less than day
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after coinbase pro
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listed it so the major u.s currency
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exchange coinbase pro has announced
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it will list the native token of
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blockchain platform
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silo other silo markets have responded
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enthusiastically
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with the coin gaining roughly 55 percent
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over both usd and btc
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over the past 24 hours as see lo
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rocketed into new all-time highs
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above two dollars and 70 cents so that
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was just showing the power of coinbase
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um and that's why i wanted to bring that
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up the last thing i want to go over
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today is not coinbase related it's just
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nasa is exploring blockchain technology
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that could help power
[814]
mission to saturn's icy moon so you have
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all these
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real world use cases that are happening
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then you have all these moon shots this
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is very exciting
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so nasa is looking at a blockchain
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solution that can help power the space
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agency's mission to the saturn's
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ic moon titan so we won't go over that
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you can pause the video if you want and
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read that yourself
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but just more and more excitement in the
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crypto space and the blockchain space
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and more forward momentum for the space
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so let me know in the comments section
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below
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what you think all right so thank you
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very much for tuning in to the
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cryptocurrency news portal i deeply
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appreciate it just so you know
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i have started an email distribution
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list as well it's free to join
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i'll leave a pen comment in the comment
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join this free email distribution where
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i just send out newsletters about the
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crypto space in general
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and if you're already subscribed to the
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if you're not a subscriber yet hopefully
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i've shown you value today and i would
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just leave a comment in the comment
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respond to all comments i love getting a
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discussion going about the crypto space
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and if you like this video
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just share it with anybody else you'd
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like so again thank you so much for
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tuning into the cryptocurrency news
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portal
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and i'll talk to you real soon
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[Music]
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you
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