According to TechFlow, Web3 identity verification and private key management tool Privy has received strategic investment from Coinbase Ventures, but the specific amount has not yet been disclosed. The new funds will be used to deepen the relationship between the two parties and help developers build better products on the chain. Privy works closely with multiple product teams at Coinbase (including the Base team) and supports teams such as Blackbird and friend.tech to bring crypto products to mainstream users.