The American cryptocurrency exchange Coinbase had confidentially filed a draft registration for a public offering with the Securities and Exchange Commission (SEC).
Coinbase has submitted draft registration to the US SEC
On December 17, 2020, the exchange adopted the Announcement on its blog, stating that the company has filed a draft registration statement on Form S-1 with the SEC. The company also clarified:
Form S-1 is expected to become effective after the SEC completes the review process, subject to market and other conditions.
Plans to seek an initial public offering (IPO) date back to July 2020. Previously as news.Bitcoin.com reported, Coinbase Inc. plans to go public in the US later this year or early 2021, citing a report from Reuters, although it is not clear which exchange they are targeting.
According to the latest valuation, the US-based crypto exchange was over $ 8 billion, and this move opens the doors to a future IPO for one of the biggest names in the crypto industry today.
Meltem Demirors, CSO of Coinshares, said posting a notification about a confidential S-1 filing in 2020 is a move and has been used by other Affirm companies as well. He also pointed out that “the timing is very coincidental BTC breaks record highs. “
Demirors commented on what Coinbase’s possible IPO means for the crypto community:
I believe this will be a monster IPO and the first of many to come in 2021. These and future IPOs will further enable investors at both the institutional and retail levels to get more pure exposure to crypto assets.
Other major crypto-related companies trading publicly
Another heavy crypto company that trades publicly is Canaan Creative, the ASIC mining rigs manufacturer, which recently posted a net loss of $ 12.7 million on its third-quarter financial results. published on November 30, 2020. Canaan dominates the SHA-256 miners are on the market worldwide, along with Bitmain, Microbt and Ebang.
Looking ahead, the Coinshares CSO believes that Coinbase’s IPO will be “the first meaningful exit, meaning more will be allocated to crypto companies in the future.”
The US-based crypto exchange has not provided further details regarding this announcement.
What are your expectations for Coinbase IPO plans? Let us know in the comments below.
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