Leading U.S.-based cryptocurrency exchange Coinbase is all set to go public on April 14. Traders and investors will be permitted to start purchasing stock in the trading platform beginning then.
Coinbase Will Go Public in Less Than Two Weeks
It is a big deal that Coinbase has filed for an initial public offering (IPO) in the sense that no company in Coinbase’s shoes has ever been in this position. As the first crypto platform of its kind to ever go public, many analysts are confident this is going to be the start of something big, and that assets like bitcoin – which have already been exploding in price as of late – are about to expand to a whole new level.
Coinbase first announced its plans to go public last December and filed what is known as Form S-1 with the Securities and Exchange Commission (SEC). Considering things are now moving in the right direction, one can only assume that the exchange passed the review process the financial agency applies to all companies seeking public trading options with flying colors.
The trading enterprise mentioned in a statement:
Coinbase today announced that its registration statement on Form S-1, as filed with the Securities and Exchange Commission (SEC), relating to a proposed public direct listing of its Class A common stock was declared effective by the SEC on April 1, 2021. Coinbase anticipates that its Class A common stock will begin trading on the Nasdaq Global Select market under the ticker symbol ‘COIN’ on April 14, 2021. Copy of the prospectus related to the registration statement may be obtained by visiting EDGAR on the SEC website.
While Coinbase may not be the largest crypto exchange in the world (Binance is currently ranked at number one), it certainly comes close. The company was founded in the year 2012 by Brian Armstrong, and for the past nine years, it has cemented itself as a leader in the global digital asset community. Thus far, according to data from Messari.io, the trading platform holds approximately 11 percent of all crypto owned by customers around the world. That is a big number to say the least.
Getting Ready to Buy Some Stock?
In a statement, founder Armstrong commented:
At Coinbase, we’re committed to bringing the potential of crypto to everyone. As part of this commitment, we will always strive to provide our customers with the highest levels of security, trust and transparency during periods of extreme demand.
Considering bitcoin is presently trading for more than $59,000 per unit, it is probably safe to say that that period of extreme demand Armstrong mentions has truly arrived. At the time of writing, many major companies – including PayPal and Tesla – are allowing crypto payments for goods and services, and the currency has reached a new pinnacle in that it is now viewed as a store of wealth and not just a speculative asset.
This news is originally posted here
