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Coinbase, one of a few high-profile startups dealing in the Bitcoin virtual currency, is raising a new round at a valuation as high as $400 million, according to a new report.

Coinbase lets people buy and sell Bitcoins.

The report from Re/code, citing unnamed sources, says Draper Fisher Jurvetson is expected to take part in a new round in Coinbase between $40 million and $60 million.

Draper Fisher Jurvetson did not immediately respond to VentureBeat’s request for comment.

A Coinbase spokeswoman declined to comment on “rumors and speculation.”

San Francisco-based Coinbase started in 2012. It announced a $25 million funding round in December 2013.


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