Coinbase Inc. in Preparation for a Stock Market Listing: Report

By Nivesh Rustgi
Published July 9, 2020 Updated July 9, 2020
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Coinbase Inc. in Preparation for a Stock Market Listing: Report

By Nivesh Rustgi
Published July 9, 2020 Updated July 9, 2020

Coinbase Inc., one of the most popular cryptocurrency exchanges is reportedly readying a direct listing on the stock market, according to sources.

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An independent researcher, *Walter Bloomberg, tweeted about the news first. Reuters also published a similar report a while back, further confirming the reports.

This will be the first instance of an exchange offering public shares of its’ company. Until now, mining hardware manufacturers like Bitman, Canaan and so on were the only ones in the clear for a public share offering.

The listing on stock market exchanges would require approval from the SEC (Securities Exchange Commission) in the U.S. Moreover, due to a lot of scrutiny of cryptocurrency exchange business, the intervention of agencies like New York State Department of Financial Services (NYDFS) is also possible.

Coinbase, recently, strengthened its legal team with the appointment of Paul Grewal, former US Magistrate Judge, as Chief Legal Officer.

The firm offers a variety of institutional-grade services apart from a cryptocurrency exchange via Coinbase Pro and Coinbase Custody. Reportedly, the total venture backing until 2019 in Coinbase in over $525 million, with a valuation of $8 billion (in 2018). The firm has expanded profoundly since then with the listing of new cryptocurrencies and provision of custody to funds like Grayscale Trust Fund.

Do you think it will have a positive effect on the cryptocurrency market? Please share your views with us. 

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Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
Nivesh Rustgi
1181 Articles
Nivesh from Engineering Background is a full-time Crypto Analyst at Coingape. He is an atheist who believes in love and cultural diversity. He believes that Cryptocurrency is a necessity to deter corruption. He holds small amounts of cryptocurrencies. Faith and fear are two sides of the same coin. Follow him on Twitter at @nivishoes or mail him at nivesh(at)coingape.com

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