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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.
Updated Sep 14, 2021, 11:02 a.m. Published Jan 28, 2021, 7:25 p.m.
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
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Bitcoin Jumps to $99K as Spiking Coinbase Premium Points to Strong U.S. Buying
Spot BTC prices were at times $300 pricier on Coinbase relative to Binance, suggesting the rally may be driven by heavy demand from American investors.
What to know:
- Bitcoin surged towards $100,000 on Wednesday's U.S. trading session, gaining 3.2% in the past 24 hours.
- The rally coincided with significant spot BTC price premium on Coinbase.
- Fed Chair Jerome Powell called bitcoin a competitor to gold during a panel discussion.
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