Blockchain networks and cryptocurrency service firms like exchanges and asset managers have been the beneficiaries of several fundings in the last few years. The expansion of the Blockchain space has propelled many of these crypto service firms to seek various fundings, as the need to expand their services has been on a high. However, most of these fundings and investments round have started to yield bountiful returns for its investors. Duke University, one of the earliest investors in popular crypto exchange- Coinbase, is believed to have gotten at least 1000% returns on their investment.
Coinbase now worth $100 billion
The year 2015 had seen Duke University Endowment Fund join a list of other Capital Ventures to invest in Coinbase in a Series C funding round. At the time, many crypto analysts believe that the University’s investment in the cryptocurrency exchange was partly due to it being the Alma Mater of Fred Ehrsam, one of the founders of Coinbase. They were several unconfirmed reports at the time that believed that Fred Ehrsam had convinced the University endowment fund to invest in the cryptocurrency exchange, promising them juicy returns.
However, it appears that the Executive is correct, as sources around the school who want to remain anonymous believe that the six-year-old investment has now multiplied the University’s endowment fund by hundred folds. Coinbase is set to go public in the next few weeks, and sources close to the cryptocurrency exchange believe that the exchange’s value has increased by more than 1000% since 2015.
The cryptocurrency exchange was worth around $4 billion when Duke University committed funds to its projects. However, the cryptocurrency exchange is now worth $100 billion at the time of writing. According to these sources, no one can confirm the exact figures of Duke University’s investment in the $75 million funding round, despite the supposed high-profit yield.
Coinbase public listing will plummet the exchange’s fortunes
Despite not being a public company at the time of writing, Coinbase is the world’s most valuable cryptocurrency exchange. The firm is touted as one of the most successful crypto exchanges, and its public listing is set to plummet its fortunes further. However, most of these successes did not come overnight, as the exchange had been working tirelessly to raise funds, touted to improve its business. The crypto exchange has continued to partake in several funding rounds in the last few years, as many venture capitals believe in the exchange’s future.
The crypto exchange customer base has also been on a high, as many are attracted to the exchange due to its mouthwatering juicy rewards. Before now, a report surfaced on social media confirming that the endowments of famous universities like Yale and Harvard have also joined the growing list of customers purchasing cryptocurrencies from the crypto exchange. However, the crypto exchange is now set to reward its customers and investors with more returns, as it is set to go public.