According to Foresight News, Web3 authentication and private key management tool Privy announced that it has received strategic investment from Coinbase Ventures. The specific amount has not been disclosed. The new funds will be used to deepen the cooperation between the two parties and help developers build better products on the chain. Privy works closely with many product teams of Coinbase (including the Base team) and supports teams such as Blackbird and friend.tech to bring crypto products to mainstream users.