Coinbase Pre-IPO Share Soars on FTX Post S-1 Filing With the SEC

Published by
Coinbase Pre-IPO Share Soars on FTX Post S-1 Filing With the SEC

Coinbase announced its direct listing on NASDAQ after an S-1 IPO filing with the SEC for a direct listing. The news of the public listing soared the pre-IPO shares listed on FTX, rising from $390 to over $430 in a matter of a couple of hours.

Source: TradingView

The pre-market valuation of Coinbase is estimated to be as high as $100 billion with the firm targeting a share price of $400 each. The rise in pre-IPO shares of Coinbase did not come as a big surprise for many given the crypto exchange had announced its public debut back in December last year.

Source: SEC

The S-1 IPO filing with the SEC revealed interesting details about the exchange which started its journey back in 2012. The filing revealed that the total number of customers on the platform has reached 43 million while the total revenue of the firm reached $3.4 billion out of which $1.28 billion came in 2020 alone.

Advertisement

Coinbase Put Satoshi Nakamoto in S-1 Filing

The Coinbase S-1 IPO filing also mentioned the pseudo-anonymous creator Satoshi Nakamoto in CC drawing a lot of Twitter attention. The trend of encoding messages in Bitcoin blocks was first started by Nakamoto himself.

Coinbase in its run-up to the IPO filing had earlier revealed that they had invested in Bitcoin and Ethereum during the nascent stage and have held on to their investments up until now. The firm also became truly decentralized with no physical headquarters anywhere in the world which was only aided by the growing pandemic.

The much-awaited public announcement by Coinbase had a positive impact on Bitcoin price as it rose above $51k after spending most of the past 4-days under $50k after the direct NASDAQ listing was announced. Bitcoin touched a new all-time high of $58,543 last week before registering a sharp 20% fall. The top cryptocurrency could see a bullish rally as on-chain metrics along with MicroStrategy and Squre Inc and Coinbase public listing is believed to help it extend the next leg of the bull run.

 

Advertisement

Share
Prashant Jha

An engineering graduate, Prashant focuses on UK and Indian markets. As a crypto-journalist, his interests lie in blockchain technology adoption across emerging economies.

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • News

Analyst Turn Bullish with $400 SOL Target as Hong Kong Approves First-Ever Solana ETF in Asia

Hong Kong has officially approved the region’s first-ever Solana ETF in Asia. This comes as…

October 22, 2025
  • News

Veteran Trader Peter Brandt Says “MSTR Could Go Underwater” If Bitcoin Repeats 1977 Soybean Crash

Peter Brandt has drawn a comparison between Bitcoin’s current price pattern and the 1977 soybean…

October 22, 2025
  • News

BSC Meme Season Ends as PumpFun Surpasses Four Meme Amid $8M Inflows

The latest market data suggests that the BSC Meme Season may be coming to an…

October 22, 2025
  • News

ProShares Files for Index Crypto ETF Tracking Bitcoin, Ethereum, XRP, and Solana

Asset manager ProShares is seeking to establish a new crypto ETF tracking the CoinDesk 20…

October 22, 2025
  • News

Trump Says Meeting with China May Not Happen, Bitcoin Drops

U.S. President Donald Trump has cast doubts over his meeting with China's President Xi Jinping.…

October 21, 2025
  • News

The Great Rotation? Bitcoin Rises as Gold Sees Largest Daily Drop Since 2013

Experts have indicated that a rotation might be occurring with investors moving from gold to…

October 21, 2025