Bitcoin exchange Coinbase is launching a venture capital fund

San Francisco-based virtual currency trading platform Coinbase is launching a venture capital arm that will focus on funding early stage startups, the company said Thursday.

Coinbase President and Chief Operating Officer Asiff Hirji told CNBC's "Fast Money" that Coinbase may also use the fund to invest in potential competitors. Reports CNBC:

Last month, Coinbase said it is launching a index fund, allowing investors to track trends happening in the white-hot cryptocurrency market as it automatically…

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