Coinbase could be the first major player in the cryptocurrency industry to go public in the United States, according to reports. The company has yet to announce plans to go public, but has apparently been in talks with investment banks and law firms about what would mark a major milestone for the crypto market. Cryptocurrency exchanges and related companies have been in limbo in the United States for several years, as banks have largely shunned the sector, and the Securities and Exchange Commission (SEC) has not issued regulatory directives on cryptocurrency. Most digital pieces. A Coinbase listing would give legitimacy to other cryptocurrency-based companies and could pave the way for future IPOs.
Coinbase List
Before it goes public, Coinbase will need to get SEC approval. Coinbase has yet to file a request with the agency, and the SEC has remained silent on whether Coinbase will be allowed to sue. Notably, Coinbase does not plan to enter the public markets through an IPO. Instead, it hopes to use a direct listing in which it will not issue new shares. A direct listing would reward existing shareholders, as there is no lock-up period during which they are prohibited from selling their Coinbase shares. Furthermore, this route avoids diluting the value of existing shares with a new issue. Coinbase was last valued at €8 billion in a private funding round in 2018, and the crypto market has only grown since then. Coinbase added more than eight million users from 2018 to 2019, and the marketplace recently surpassed 35 million total accounts. Coinbase currently operates in the United States and in more than 100 countries around the world. Via Forbes