Cryptocurrency exchange Coinbase applied for an initial public offering

Coinbase has applied to the U.S. Securities and Exchange Commission (SEC) for an initial public offering on Nasdaq.

As a procedure, the request to the US regulator brought Coinbase closer to trading on the Nasdaq stock exchange, and it was an important step for cryptocurrencies to go mainstream.

The Coibase IPO came after Bitcoin prices closed 2020 with an increase of up to 300 percent. The company plans to hold an initial public offering where its existing shareholders can sell their shares, rather than a traditional initial public offering where new shares are sold.

The US media claimed that Coinbase’s market value exceeded $ 100 billion, based on the latest share sale last week.

With a total of 43 million registered users, Coinbase reached a turnover of $ 1.1 billion in 2020 and made a net profit of $ 322 million.

According to the information in the application to the SEC, so far there have been 456 billion dollars in transactions on the platform. $ 193.1 billion of this was realized in 2020. The total value of assets on the platform is around $ 90 billion.

Bitcoin is trading around $ 51,000 today, up 5 percent.


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