It has long been rumored that Coinbase, one of the world’s largest digital currency exchange, is considering going public directly.
In an official blog post The cryptocurrency exchange revealed its plans to directly list its Class A common shares. This is evident from a registration filed with the US Securities and Exchange Commission. or SEC for its acronym in English. Filing of the S-1 registration will take effect once the U.S. Securities and Exchange Commission completes its review.
The direct listing format would not offer new shares, but sell existing ones directly to the public. Some of the benefits of this format for corporate stockholders may include the ability to sell without blocking, a model recently used by Palantir that has the potential to create “Instant Billionaires”.
“This announcement does not constitute an offer to sell or a solicitation of an offer to buy any securities”, Coinbase said. “This announcement is made in accordance with Rule 135 of the Securities Act.”
He The exchange first announced its intention to go public on December 17th Filing a registration project with the SEC. A Business Insider story later claimed so Coinbase intends to work with Goldman Sachs on an IPO. However, no confirmation was provided at this point.
The most recent review from Coinbase in 2018 the company had set at $ 8 billion. The cryptocurrency analysis company Messari says the exchange could be valued at $ 28 billion after a public offering.
Coinbase’s sphere of influence continues to grow after several high profile acquisitions. As Cointelegraph reported, The exchange recently acquired Bison Trails, a fully managed blockchain infrastructure provider. Also in January The company acquired the Routefire platform, making a significant contribution to the execution of operations.
Coinbase recorded a trading volume of over $ 320 billion and has over 35 million users.