Fun

Coinbase Files Paperwork With SEC to Launch Public Offering

News Feed - 2020-12-18 10:12:33

Coinbase Files Paperwork With SEC to Launch Public Offering


U.S. cryptocurrency exchange Coinbase had confidentially filed a draft registration for a public offering to the Securities and Exchange Commission (SEC). Coinbase Sent Draft Registration to the US SEC


On December 17, 2020, the exchange made the announcement on its blog, stating that the firm submitted a draft registration statement on Form S-1 with the SEC. The firm also clarified: The Form S-1 is expected to become effective after the SEC completes its review process, subject to market and other conditions.


Plans of looking for an initial public offering (IPO) date back from July 2020. As news.Bitcoin.com previously reported, Coinbase Inc. was planning a U.S. stock market listing for later this year or early 2021, citing a Reuters report, although it’s not clear which stock exchange they are targeting.


The latest valuation put the U.S.-based crypto exchange at over $8 billion, and this move opens the doors for a future IPO for one of the biggest names in the crypto industry nowadays.


Speaking with news.Bitcoin.com, Meltem Demirors, Coinshares’ CSO, said that putting out a notice about a confidential S-1 filing is a 2020 move and has also been used by Affirm other firms. Also, he pointed out the fact that “the timing is especially fortuitous as BTC is breaching all-time highs.”


Demirors commented about what this Coinbase’s possible IPO means for the crypto community: I believe that this will be a monster IPO and the first of many to come in 2021. This and future IPOs will further enable investors at both an institutional and retail level to get more pure-play exposure to crypto-assets.


Other Major Crypto-Related Firms Trading Publicly


Another crypto heavy-weight company trading publicly is Canaan Creative, the manufacturer of ASIC mining rigs, which recently posted a net loss of $12.7 million on its Q3 financial results published on November 30, 2020. Canaan dominates the SHA-256 miners market globally, together with Bitmain, Microbt, and Ebang.


Looking ahead, Coinshares’ CSO believes that Coinbase’s IPO “will be the first meaningful exit, which means more allocation to crypto companies” in the future.


The U.S.-based crypto exchange didn’t provide further details as of press time about this announcement.


What are your expectations for the Coinbase IPO’s plans? Let us know in the comments section below. Major Latin American University Launches Specialization Featuring Crypto-Related Topics NEWS | 4 hours ago Massive Fake Celebrity-Endorsed Bitcoin Investment Campaign Duping Google, Facebook Traced to Moscow NEWS | 19 hours ago Tags in this story canaan creative, Coinbase, Coinbase IPO, Coinbase public offering, crypto exchange, Direct listing, initial public offering, IPO, SEC, SEC filing, United States


Image Credits: Shutterstock, Pixabay, Wiki Commons Use Bitcoin and Bitcoin Cash to play online casino games here. Show comments

News Feed

Report: State Securities Regulators Probe Crypto Lender Genesis
Report: State Securities Regulators Probe Crypto Lender Genesis State securities regulators are reportedly investigating Genesis Global Capital in a broad range probe into the “i
Argentinian Central Bank to Lift Freeze on Bank Fee Increases: Sets the Ceiling for Future Hikes at 9%
Argentinian Central Bank to Lift Freeze on Bank Fee Increases: Sets the Ceiling for Future Hikes at 9% The Central Bank of the Argentine Republic says starting i
Crypto Economy Hovers Below $3T: Analyst Says First Bear Marker ‘Would Be a Capitalization Drop Under $2.38T’
Crypto Economy Hovers Below $3T: Analyst Says First Bear Marker "Would Be a Capitalization Drop Under $2.38T" The crypto asset economy has been down in value over the last week as
Binance tax evasion trial moved to May 17 in Nigeria
Amaka Nwaokocha11 hours agoBinance tax evasion trial moved to May 17 in NigeriaGambaryan’s lawyer, Chukwuka Ikuazom, objected, citing Nigerian law, stating he couldn’t plead until Binance, the primary defendant, was
2 key Bitcoin metrics signal steady bull cycle — ‘No bubble’ in sight
Ciaran Lyons5 hours ago2 key Bitcoin metrics signal steady bull cycle — ‘No bubble’ in sightThe metrics suggest that Bitcoin is unlikely to be overvalued at current levels, and its price action is developing “ste
Analyst Sees Double-Digit XRP Price—The Catch? Recapturing 2017 BTC Peak
Este artículo también está disponible en español. Experts are thrilled about the chances that XRP, the cryptocurrency linked to Ripple, will hit new heights. Recent trend
Derek Andersen5 hours agoCBOE to launch BTC, ETH margin futures trading in January with 11 firms supportingThe new trading capability comes simultaneously with a surge in interest in crypto financial products in the Unit
Tron DAO Reserve Acquires Millions in TRX, Bitcoin, and Tether to Safeguard USDD
Tron DAO Reserve Acquires Millions in TRX, Bitcoin, and Tether to Safeguard USDD Seven days ago, Bitcoin.com News reported on the Tron DAO Reserve purchasing $38 million in tron to
Circle Starts Moving USDC Reserves Into a Blackrock-Managed Fund, Firm Expects to Be ‘Fully Transitioned’ Next Year
Circle Starts Moving USDC Reserves Into a Blackrock-Managed Fund, Firm Expects to Be "Fully Transitioned" Next Year According to the crypto firm Circle Internet Financial, the comp
Moody’s Says Forex Shortages May Force Nigerian Central Bank to Delay Repaying Local Banks
Moody"s Says Forex Shortages May Force Nigerian Central Bank to Delay Repaying Local Banks The persistent scarcity of foreign exchange may force the Nigerian central bank to delay
3 reasons why DOGE, WIF and other memecoins are crashing
Yashu Gola7 hours ago3 reasons why DOGE, WIF and other memecoins are crashingThe memecoin market"s downturn seems like a typical adjustment seen before Bitcoin halvings, yet more downside is possible.1203 Total views1 To
Derek Andersen2 hours agoMarathon Digital will use landfill methane to mine Bitcoin in Utah pilot projectThe BTC miner has partnered with startup Nodal Power for a green, off-grid project that is a small start for a pote