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Coinbase to Become Publicly Traded, Announces Proposed Direct Listing of Shares
Coinbase announced last month it had confidentially submitted a draft registration statement with the SEC.
Leading cryptocurrency exchange Coinbase Global said it intends to become a publicly traded company pursuant to a proposed direct listing of its Class A common stock.
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- On Dec. 17, 2020, Coinbase announced it had confidentially submitted a draft registration statement on Form S-1 with the U.S. Securities and Exchange Commission.
- The S-1 is not yet publicly available. The firm's announcement Thursday included no details as to when the stock would be listed or under which ticker.
- Coinbase recently announced it had $90 billion in assets on platform at the close of 2020 and 43 million registered users.
- By comparison, there are roughly 13 million users on Robinhood, the fintech app embroiled in controversy after abruptly halting trading of GameStop (GME) and other meme stocks.
Read more: Coinbase, With Bitcoin Soaring, Files in Preparation for Landmark Public Offering
Kevin Reynolds
Kevin Reynolds is editor-in-chief at CoinDesk. Prior to joining the company in mid-2020, Reynolds spent 23 years at Bloomberg, where he won two CEO awards for moving the needle for the entire company and established himself as one of the world's leading experts in real-time financial news. In addition to having done almost every job in the newsroom, Reynolds built, scaled and ran products for every asset class, including First Word, a 250-person global news/analysis service for professional clients, as well as Bloomberg's Speed Desk and the training program that all Bloomberg News hires worldwide are required to take. He also turned around several other operations, including the company's flash headlines desk and was instrumental in the turnaround of Bloomberg's BGOV unit. He shares a patent for a content management system he helped design, is a Certified Scrum Master, and a veteran of the U.S. Marine Corps. He owns bitcoin, ether, polygon and solana.
