was incorporated in Delaware as a holding company for Coinbase and its subsidiaries. In the same year, company also added bitcoin payment processing capabilities to the traditional payment companies Stripe, Braintree, and PayPal. allowing those firms to accept bitcoin payments. Throughout 2014, the company also partnered with Overstock, Dell, Expedia, Dish Network, and Time Inc. In 2014, the company grew to one million users, acquired the blockchain explorer service Blockr and the web bookmarking company Kippt, secured insurance covering the value of bitcoin stored on their servers, and launched the vault system for secure bitcoin storage. Olaf Carlson-Wee, a graduate from Vassar College, was hired as the first employee in the same year. In December the same year, the company received a US$25 million investment, from the venture capital firms Andreessen Horowitz, Union Square Ventures (USV), and Ribbit Capital.
What coins does coinbase app support series#
In May 2013, the company received a US$5 million Series A investment led by Fred Wilson from the venture capital firm Union Square Ventures. 8 In October 2012 the company launched the services to buy and sell bitcoins through bank transfers. The company is named after coinbase transactions, which are special transactions that introduce cryptocurrency into circulation in proof of work cryptocurrencies. British programmer and co-founder Ben Reeves was originally supposed to be part of the Coinbase founding team but parted ways with Armstrong just before the Y Combinator funding event, due to their different stands on how the Coinbase wallet should operate. Fred Ehrsam, a former Goldman Sachs trader, later joined as a co-founder. Armstrong enrolled in the Y Combinator startup incubator program and received a $150,000 cash infusion. Coinbase was founded in June 2012 by Brian Armstrong, a former Airbnb engineer.