Singapore's GIC said to invest in US crypto exchange Coinbase

Singapore's GIC said to invest in US crypto exchange Coinbase

Sebastian Kastner, lead engineer at HydroMiner GmbH, handles cable connections between cryptocurrency mining rigs on racks at the company's mining facility near Waidhofen an der Ybbs, Austria, on Friday, Jan. 19, 2018. HydroMiner, the Austrian cryptocurrency miner that mines bitcoins with green energy, is weighing an initial public offering to fund an expansion outside its home country. Photographer: Akos Stiller/Bloomberg

Singapore’s sovereign wealth fund GIC Pte was among investors that helped U.S. cryptocurrency exchange Coinbase Inc. raise $300 million last year, according to people familiar with the matter.

While Coinbase said it garnered investment in its October funding round from firms including Tiger Global Management, Wellington Management and Andreessen Horowitz, GIC’s participation hasn’t previously been disclosed. GIC declined to comment, while an official for Coinbase also declined to comment.

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