DeFi Movement Gains Strength as Anchorage Raises Series C led by Sovereign Wealth Fund

Posted on 02/25/2021

With Coinbase filing to go public with a direct listing, more institutional investors are getting comfortable with the cryptocurrency sector. Anchorage has received a federal banking charter from the OCC. Anchorage announced an US$ 80 million Series C funding round to expand its digital bank services. The Series C was led by GIC Private Limited, Singapore’s sovereign wealth fund, with participation from a16z, Blockchain Capital, Lux, and Indico.

This new round of funding will help Anchorage support institutions in new ways; by bringing crypto to their users, by diversifying their corporate treasuries, and by enabling a wide range of emerging use-cases.

Revealed in a filing, Coinbase said it’s facing federal and state investigations. Coinbase has been under investigation since 2017 by the Commodity Futures Trading Commission. Coinbase also received a Securities and Exchange Commission subpoena as recently as December 2020, for information about its operations. Coinbase said it’s cooperating with all investigations.

Keywords: Coinbase Global Inc.

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