With its latest funding round, Coinbase, the cryptocurrency exchange turned Silicon Valley unicorn, is amassing a "war chest" for a "rainy day."
At least, that's how Coinbase's vice president of corporate and business development, Emilie Choi, described the $300 million the company recently raised in a Series E round with investors such as Tiger Global Management and Polychain, the latter of which is headed by former Coinbase employee Olaf Carlson-Wee.
"It was opportunistic," Choi told CoinDesk Wednesday. "We didn't need to raise it."