• Car Gonzalez

Coinbase: A Different Path To An IPO?

Updated: Jul 13, 2020

coming from Reuters via Coindesk

One of the world’s largest cryptocurrency exchanges is said to be preparing to list on the U.S. stock market sometime in early 2021.

  • Sources speaking to Reuters said Coinbase had already begun the process for a listing; it isn't clear on which exchange venue this would take place.

  • Rather than an initial public offering, it's said the firm would prefer to go down the route of a direct listing on an exchange.

  • The Securities and Exchange Commission would have to approve Coinbase's listing application.

  • Should it be approved, Coinbase would be the first crypto exchange to go public in the U.S.

  • The company was valued at $8 billion at its last funding round in 2018.

  • Coinbase declined to comment.

If I remember accurately I believe Brian had mention in a past interview (I would have to find it) that if "they" did decide to go public it would be in a new and interesting way. I would not be surprised if they go the route of a non traditional way to IPO.

Although if you remember, I know I do...Coinbase president Asiff Hirji first spoke about an IPO back in December of 2017 (that's right at the height of the bull run.) When asked about the possibility of taking the company public, he told CNBC:

It is certainly in the interest of our investors…and the most obvious path of Coinbase is to go public at some point, but there’s a lot for us to do between now and then, whenever that date is.“Coinbase just raised $300 million in a Series E round, bringing its valuation to $8 billion. Coinbase plans to use those funds to “accelerate the adoption of cryptocurrencies and digital assets,” Coinbase President and COO Asiff Hirji says.

Whatever they decide to do look for this to say to the world & the investment markets in 2021 that Bitcoin & Crypto have arrived and were not going anywhere!

Check out our entire analysis on the latest Thriller Rundown.