Here at Coinbase, we’re committed to creating an open financial system for the world. We’re hard at work building our own set of products. And we’re also eagerly rooting for the best and brightest minds in the crypto space, both in and outside of Coinbase, to develop products and services that create meaningful user and customer value.
As , the digital currency ecosystem has the opportunity to transform the lives of billions of people, but we have only just scratched the surface of what’s possible.
That’s why today, we’re announcing the formation of Coinbase Ventures. We’ll be providing financing to promising early stage companies that have the teams and ideas that can move the space forward in a positive, meaningful way.
At least in the beginning, our goal is simply to help the most compelling companies in the space to flourish. This means that we don’t have the strategic requirement of formalizing partner relationships with such companies, as some corporate venture programs do. Our focus is on building strong relationships and helping to spur on the development of the ecosystem.
We also have a strong Coinbase alumni network, which we’re very proud of. People who have worked at Coinbase are encouraged to think entrepreneurially, and you can expect that we’ll enthusiastically invest in ideas from our own alumni network.
You may also see us invest in companies that ostensibly look competitive with Coinbase. There may be nuance to the way these startups are building out their products. Or, in some cases, we may be comfortable investing in companies that are potentially competitive, because it’s in everyone’s interest to see the ecosystem innovate. We’re taking a long term view of the space, and we believe that multiple approaches are healthy and good.
In short, it’s in all of our interest to see this space evolve, expand and mature. We’ll learn a lot along the way, and we’re excited to get started.
Stay tuned!
Please note that we are not offering favored asset status to any companies we’ll invest in. As always, we’ll follow the to add any new assets to the platform.
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We’re excited to announce our intention to support the withdrawal of across Coinbase products in the coming months. We are announcing this both internally and to the public as consistent with .
This change will allow customers to more easily withdraw assets associated with bitcoin Forks across all Coinbase products. We are not announcing support for any specific assets at this time. As always, we look at technical, operational, and legal considerations when deciding which bitcoin Fork assets to support and will always state on our website which particular assets are supported.
What bitcoin Fork support means for our products
— will build infrastructure to support future bitcoin forks. Note: Custody will likely support more forked assets than GDAX or Coinbase for the foreseeable future.
— will build infrastructure to support withdrawal of bitcoin Forks for assets stored on GDAX at the time of the fork. Adding withdrawal support for a bitcoin fork does not mean the asset will also be added for trading. Assets that are listed for trading will be independently evaluated using the .
— , any forked assets listed for trading on GDAX will be added to the Coinbase Index on a market capitalization weighted basis. Withdrawal-only forked assets, i.e. not added to GDAX for trading, will not be added to the index.
— anticipated infrastructure to support the withdrawal of bitcoin forks for assets held on the platform at the time of the fork. , Coinbase will only list forked assets for trading after they are listed for trading GDAX. It’s also worth repeating that listing on GDAX does not guarantee listing on Coinbase.
— customers of Commerce control and manage their own private keys, and Coinbase does not control access to forked assets. We have no plans to support any new forked assets in the Commerce UI.
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