According to a recent report, San Francisco-based cryptocurrency exchange Coinbase plans to sell shares in Nasdaq’s private market prior to its initial public offering (IPO). Coinbase has reportedly informed shareholders that they will receive information on the private sale this week.
Reports indicate that Coinbase may sell stock through the Nasdaq Private Market prior to the IPO
Coinbase is the largest digital currency exchange in the United States and one of the largest trading platforms in the world. At the time of publication, between BTC and ETH deposits, Coinbase owns more than $ 40 billion in digital assets under management (AUM) according to Bituniverse exchange balance. As for other digital assets under management, the San Francisco Stock Exchange recently noticed it owns $ 90 billion AUM in cryptocurrencies.
Mid-December, Coinbase announced the confidential filing of an S-1 IPO with the United States Securities and Exchange Commission. On Friday, The Block’s financial columnist Frank Chaparro, reported that Coinbase will sell shares privately prior to the IPO.
“On Monday, January 25 at noon PT, you will receive an email from the Nasdaq Private Market with details including how to access the market, which stocks are eligible to trade and how the market will function,” a message would say. have been sent to Coinbase shareholders in detail.
Coinbase Pre-IPO Futures Sees Significant Demand, Estimates Show Crypto Company Could Reach a Valuation of $ 20 to $ 70 Billion
Rumor has it that Coinbase will use financial institution Goldman Sachs to lead the IPO. Plus, so are pre-IPO futures (CBSE) trade in hands on the crypto exchange platform FTX. At time of publication CBSE / USD markets on FTX show the pre-IPO futures trading at $ 272 per unit. CBSE is one of the largest tokenized stock markets on FTX, outperforming the vaccine company’s token shares on FTX called Moderna (MRNA).
Several predictions have been made regarding estimating Coinbase’s total value after the IPO. An analysis by messari.io analyst Mira Christanto details Coinbase “could value the company at $ 28 billion.” Research compiled by The Block estimates the San Francisco company could reach a valuation of $ 70 billion.
What do you think of Coinbase selling shares privately through Nasdaq’s private market? Let us know what you think about this topic in the comments below.
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