Coinbase to Go Public With A Direct Listing On April 14th

By Robin Wong | April 11, 2021

US-headquartered crypto exchange powerhouse Coinbase reportedly revealed it looks to achieve direct listing for its stock on April 14th. 

Specifically disclosed via its blog post, the U.S. Securities and Exchange Commission (SEC) has reportedly granted the effective status, regarding the firm’s previous filing of an S-1 registration for a public offering. 

Coinbase’s Class A common stock is reportedly expected to begin trading across the Nasdaq Global Select Market under the ticker symbol “COIN” on April 14. 

The crypto exchange had previously expected to be publicly listed in March this year, but has postponed its plan following the completion of a payout of a $6.5 million fee as part of a settlement with the Community Futures Trading Commission (CFTC). 

The US SEC has reportedly received a draft registration for a public offering from Coinbase in December 2020, despite the crypto exchange revealing its plans to carry out a public listing via Nasdaq in the first half of this year. 

The company’s value may have stood at $100 billion at the time of its initial public offering, as suggested by the exchange’s shares reportedly placed for selling at a value of $375 each, via a private auction in February. 

Established 9 years ago in 2012, Coinbase is reportedly among the most high-profile crypto exchange entities throughout the US, with Coinbase Pro finalizing the process of $3 billion worth of transactions on a day-to-day basis. 

Crypto exchange Kraken – headquartered in California – has yet to offer confirmation regarding its plan to follow Coinbase to go public, but shared it would do so via a direct listing, instead of a special-purpose acquisition firm.

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