Nas Making Millions from Crypto-Exchange Platform “Coinbase” IPO

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An investment Nas made nearly 10 years ago could be bringing him millions of dollars now. According to a report from Yahoo! Finance on April 12, a number of people—including Nas —who made early investments in Coinbase, a cryptocurrency exchange platform, will be seeing a sizable return in their investment as Coinbase was officially listed on Nasdaq and is now able to be publicly traded.

“Coinbase was a big one. That was one of the ones I was real proud of,” Nas confirmed during an interview with The Breakfast Club in August of 2020 that Coinbase was one of his first investments.

In 2013, Nas’ investment firm, QueensBridge Venture Partners, got involved in Coinbase’s Series B round. At that time, the exchange platform was valued at around $143 million. And now, Coinbase is the largest cryptocurrency exchange in the United States. QueensBridge Venture Partners reportedly dropped a large investment in the Coinbase Series B to the sum of $100,000 and $500,000. CoinDesk broke down purchase and reports that at the time, the share price was $1.00676 and that QueensBridge owns between 99,329 to 496,642 shares. When that’s turned into dollars, the company could roughly own between $34.76 million and $173.8 million in Coinbase in less than 8 years following its investment.

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