Minutes ago, it was announced that Coinbase is looking for a publicly traded company. The company wrote in a January 28 blog post:
Coinbase Global, Inc. today announced its intention to become a publicly traded company under a proposed direct listing of its Class A common shares. Such proposed listing is expected to be based on a registration statement on Form S-1 with the Securities and Stock Exchange. Exchange Commission (the “SEC”). “
Note that this is not an IPO. Instead, Coinbase would allow existing shareholders to trade their positions in the primary market.
This comes shortly after the company announced that it had confidentially filed a draft registration statement on Form S-1 with the SEC.
Coinbase will be the first major cryptocurrency company to trade on a major US exchange if it manages to move forward with this direct listing process.
Coinbase’s decision to go public comes as the crypto market begins to see an influx of institutional and retail interests as prices rise.
Disclaimer: This author is an analyst at ParaFi Capital. ParaFi Capital may take positions in assets listed in this article. The opinions expressed in this article are the opinions of the author – and only the author.
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