Coinbase cryptocurrency platform approved to trade in the US.

Coinbase, which is planning a direct IPO, predicts that its shares will begin trading on the Nasdaq on April 14. In the direct public offering, none of the shares are sold in advance, unlike the initial public offering. The price of the company’s shares will be determined through orders placed on the stock exchange.

Coinbase, which made the first application that was made public on December 17, announced to the SEC on February 25 that it had submitted the “Form S-1” file required for the official registration statement.

Coinbase Global Inc., founded in 2012, according to data contained in documents filed by the company with the SEC. In 2020, it generated $ 1.27 billion in revenue. The company’s net income was announced at $ 322 million and its operating expenses were expressed at $ 869 million.

According to the statement, the company will be named “COIN” on Nasdaq, one of the three most watched stock indices.

Coinbase CFO Alesia Haas, in a note to employees late last month, emphasized that they believe that “going directly to the public” is more in line with the ethics of cryptocurrencies and Coinbase, “because it democratizes access and opportunities for all investors. “

With up to 800 percent bitcoin and an ecosystem of infrastructure companies and trading platforms developing around it in the past year, Coinbase has gained value as a proxy for the broader crypto economy.

Leave a Reply

Your email address will not be published. Required fields are marked *