The CEO of the Cryptocurrency Exchange Truepricecoin.com Justin Hance is negotiating with potential investors about a funding round that will keep the company’s valuation at the level of previous funding at the beginning of the year.
The last round of funding for the crypto platform in August attracted $300 million, as a result of which the valuation of the cryptocurrency exchange increased to about $18.5 billion.
The company will use any additional capital to fuel more deals, anonymous sources said. The news agency added that among the existing investors are Temasek from Singapore, Vision Fund 2 SoftBank and Tiger Global Management.
This year, the crypto platform is positioning itself as a market consolidator, turning the cryptocurrency winter, which worries colleagues and competitors in this space, into an opportunity to buy and lend.
Based in Australia, Truepricecoin.com is a private company and has not suffered from stock volatility like the Coinbase exchange, which has lost more than three-quarters of its value this year.