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Coinbase is Leading the Charge in Digital Wallets

Coinbase is making sure users have everything they need as we move into the new age of the World Wide Web.

Over the past decade, leading cryptocurrency exchange platform Coinbase has amassed a community of over 73 million people investing in the crypto industry.

Last January, the company made a bold move when it filed documents to go public. It made true on its promise to become a publicly traded company when it hit the Nasdaq in April. Some people may still be skeptical of the crypto leader’s progression since the industry is so volatile, but Coinbase seems poised to continue leading in the crypto space for years to come.

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Before we dive into the company’s future plans, check out some of Coinbase’ s biggest achievements in 2021.

2021 In Review

April 14: Became the first crypto company in the world to go public in a direct listing on the Nasdaq Exchange. Under the ticker symbol COIN, its shares closed at $328.28 for its debut.

May 3: Launched Coinbase Giving to commit 1% of Coinbase profits, equity, and employee time toward charitable activities that leverage crypto.

June 1: Announced the addition of Dogecoin on Coinbase Pro.

Nov. 2: After a big hiring push in India early last year, the company announced the acquisition of Agara, an Indian AI-powered support platform, for over $40 million. Coinbase also announced plans to open an office in Hyderabad.

Dec. 13: Unveiled a new music, gaming, and sports crossover event series entitled “The Green Room” alongside Atlantic Records and Xbox, and partnered with VaynerSports, eFuse, and Aim Lab.

Dec. 15: Announced a strategic marketing partnership with Kevin Durant and Thirty Five Ventures to invest more in the crypto space through creating NFT drops, providing NFT education, storytelling, and more.

“Being an early investor in a company you’re excited about is always an amazing feeling,” Durant said at the time. “Being able to come back a few years later and create an even more in-depth partnership is rare, and we’re fortunate to be building further with Coinbase.”

Dec. 14: Announced that people who use Coinbase Wallet can access their NFT collections via a Chrome browser extension.

Dec. 23: Announced that Coinbase Giving has allocated roughly $500 million to be distributed over the next 10 years.

Chasing the Grail

The company’s customer base seems stronger than ever. Over 73 million people are using Coinbase to buy, manage, and sell crypto, and Coinbase offers access to nearly 100 cryptocurrencies, including Bitcoin, Ethereum, and Solano, that are all insured in event the website is ever hacked.

It’s safe to say Coinbase has more than enough in the tank to fuel its growth plans.

According to Crunchbase, Coinbase raised $547.3 million in venture capital ahead of its public offering. We should note that 35V participated in Coinbase’s 2017 Series D funding round that raised $100 million at a $1.6 billion valuation, which made the partnership between the pair even more enticing.

Coinbase’s Holy Grail this year will be its Coinbase Wallet and expansion in the NFT space. The crypto company’s digital wallet lets users view their crypto assets and NFT collections, and it’s already equipped to interact with decentralized applications. Coinbase is also working on launching an NFT-inclusive digital marketplace that will allow users to mint, collect, discover, and showcase their NFTs in one central hub. Join the waitlist here to get early access to Coinbase NFT.

As the metaverse and Web3 continue to grow, Coinbase is gearing up to stay relevant in the discussion, too.

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About The Author
Michelai Graham
Michelai Graham
Michelai Graham is Boardroom's resident tech and crypto reporter. Before joining 35V, she was a freelance reporter with bylines in AfroTech, HubSpot, The Plug, and Lifewire, to name a few. At Boardroom, Michelai covers Web3, NFTs, crypto, tech, and gaming. Off the clock, you can find her producing her crime podcast, The Point of No Return.