Coinbase lands on the stock market: the official date of the IPO is available and will start on April 14, 2021.
This was directly confirmed by the exchange via their official channels.
Yesterday, April 1, the SEC approved the so-called Form S-1, that is, the request for a listing on the stock market. So, as of April 14, 2021, Coinbase will list its Class A shares on the Nasdaq under the symbol COIN.
The Coinbase IPO represents a breakthrough for the cryptocurrency sector. It is the first exchange to be publicly traded.
The listing date was postponed after Coinbase ran into trouble with the CFTC. The official announcement of the listing on Nasdaq was made in early February, after rumors had been circulating for months.
The news was commented very briefly by Coinbase, with a simple tweet:
“We are pleased to announce that earlier today, the SEC declared our S-1 registration statement effective and that we expect our direct listing to occur on April 14, 2021, with our Class A common shares trading on the NASDAQ under the ticker symbol MONEDA. ”.
Coinbase, the long-awaited IPO
By joining the traditional financial landscape, Coinbase aims to change the way cryptocurrencies are approached. Coinbase is potentially paving the way for other companies in the industry to integrate in a way that seemed impossible until recently.
Coinbase It is also the largest exchange in the united statesTherefore, it is natural for a financial company to seek the support of investors by putting its shares up for sale. According to the calculations of Coindesk, Coinbase is worth between $ 50 billion and $ 100 billion.
It has come a long way since 2012, when it was one of the first exchanges to bet, in every sense of the word, on bitcoin. That was the time when BTC was worth a few tens of dollars. Today, on a day when bitcoin was about again at $ 60,000, the Coinbase founder's intuition has been a winner.
In the form sent to the SEC, Coinbase describes itself as follows:
“We started in 2012 with the radical idea that anyone, anywhere, should be able to easily and securely send and receive Bitcoin, the first crypto asset. We create a reliable platform to access Bitcoin and the crypto economy in general by reducing the complexity of the industry through a simple and intuitive user experience.
Today, we are a leading provider of end-to-end technology and financial infrastructure for the crypto economy. ”
Coinbase has been to cryptocurrencies what Google has been to the internet:
“Customers around the world discover and begin their crypto journeys through Coinbase. In the early days of the Internet, Google democratized access to information through its easy-to-use search engine, allowing virtually any user with an Internet connection to discover the world's information. Similarly, Coinbase is democratizing access to the crypto economy by allowing anyone with an internet connection to easily and securely invest and use crypto assets. "
As of December 31, 2020, Coinbase informed the SEC that it had traded $ 456 billion and held in escrow up to $ 90 billion. It generated a total of $ 3.4 billion in revenue, much of which came from fees.
With numbers like these putting even banks to shame, Coinbase has all the credentials to go public. All that's left is to wait for the Nasdaq debut.