Coinbase Received Funding from Tenis Star Serena Williams

The crypto exchange is the only blockchain company on Serena Ventures’ portfolio.

Renowned tennis player Serena Williams recently revealed that she has invested in the US-based crypto exchange Coinbase.

The funding came through her venture firm called Serena Ventures and, along with the digital asset exchange, the fund has invested in an array of other startups, most of which belong to the fitness, fashion, and food industries, Williams revealed through an Instagram post.

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Launched in 2014, the fund has invested in 30 startups with a total market cap of over $12 billion, according to its official website. Williams, however, did not reveal the amount of her investment in each startup.

“In 2014, (yes I know I can keep a secret) I launched Serena Ventures with the mission of giving opportunities to founders across an array of industries,” Williams noted. “Serena Ventures invests in companies that embrace diverse leadership, individual empowerment, creativity and opportunity.”

Highest valued crypto company

Coinbase is the highest valued crypto-related company and became the first firm in the sector to get the so-called “unicorn” status. Later with another funding round in October 2018, the exchange secured $300 million and has reportedly been valued at $8 billion.

To date, the exchange and wallet platform has raised more than $546 million and is backed by major ventures including Tiger Global Management, Institutional Venture Partners, and Bank of Tokyo.

Earlier this year, Bloomberg reported that Singapore’s sovereign wealth fund has also invested substantially in the exchange helping it to raise $300 million last year.

Meanwhile, the exchange is focused on global expansion and has recently entered 11 new countries with its crypto trading services. In addition, to ensure security against the increasing threats of attacks on crypto exchanges, Coinbase has revealed that it has already insured its hot wallets for up to $255 million.

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