Crypto News

Coinbase To Go Public In U.S. On April 14

Crypto exchange Coinbase to go public April 14
Editorial credit: Nadezda Murmakova / Shutterstock.com

Los Angeles (CoinChapter) – Major crypto exchange Coinbase anticipates going public in the United States on April 14. It is expected to trade on the Nasdaq Global Select Market under the ticker symbol “COIN.”

Coinbase can proceed with its direct stock listing after the U.S. Securities and Exchange Commission (SEC). Approved the crypto exchange’s S-1 registration for a public offering.

Coinbase registered for a registration to the SEC last December. Although it hadn’t revealed intentions to pursue a listing on Nasdaq until early 2021.

Coinbase previously planned to go public in March but took a step back to deal with other matters. The exchange had to pay a $6.5 million fee as part of a settlement with the Community Futures Trading Commission (CFTC).

Coinbase was said to have an implied $68 billion valuation at the time of its initial public offering (IPO). The exchange’s shares reportedly sold for an average of $344 in a private auction last month.

While private market value is not usually indicative of a company’s share worth. The Nasdaq will use that figure to set a reference price ahead of Coinbase’s direct listing.

The SEC’s approval is a huge milestone for crypto investors that have been waiting for digital assets to become mainstream. Only recently have institutional investors and traditional banks begun to embrace cryptocurrencies.

Since its launch in 2012, Coinbase has established itself as one of the leading crypto exchanges. The company claims to have over 43 million users spanning 100 countries. According to CoinMarketCap, Coinbase Pro has handled more than $3 billion in daily transactions.

Kraken unsure if it will follow Coinbase with public offering

Another major U.S.-based crypto exchange, Kraken, is unsure if it will follow Coinbase with a public offering. The company has raised millions of dollars in funding rounds and reportedly is seeking a valuation of $20 million.

The earliest it would appear that Kraken can go public in the U.S. is 2022.

How useful was this post?

Click on a star to rate it!

Matt Borelli

Matt Borelli is a staff writer at CoinChapter, covering the daily developments in the cryptocurrency world. He is a Bitcoin enthusiast and proud Dogecoin holder. When not reporting on the latest cryptocurrency news, Matt can be found at the nearest baseball stadium.

Related "Cryptocurrency" News

Exodus Raises Nearly $60 Million In Public Offering
Los Angeles (CoinChapter) – Crypto wallet provider Exodus raised just under $60 million from investors in a successful regulated...
Coinbase (COIN) Stock Receives Reference Price Of $250
Los Angeles (CoinChapter) – Major United States-based crypto exchange Coinbase (COIN) has received a reference price of just $250...
Filecoin Hardfork Upgrade To Be Supported By Binance
Los Angeles (CoinChapter) – Major cryptocurrency exchange Binance announced that it will support the activation of the Filecoin (FIL)...
Kraken Considering Going Public In a 2022 IPO Motivated By Record Volume
Long Beach (CoinChapter): Crypto exchange Kraken is considering going public through a direct listing in 2022. The decision is...
Bank Of Thailand To Pilot CBDC In 2022
Los Angeles (CoinChapter) – The Bank of Thailand revealed plans to begin tests on a retail central bank digital...
Coinbase To Go Public In U.S. On April 14
Los Angeles (CoinChapter) – Major crypto exchange Coinbase anticipates going public in the United States on April 14. It...