- In recent weeks, rumours have been flying around the crypto space indicating that one of the biggest platforms in the industry, Coinbase is soon going to go public.
- It has been reported that the platform has been talking with investors and attorneys in order to prepare for this move to become a publicly traded business.
In recent weeks, rumours have been flying around the crypto space indicating that one of the biggest platforms in the industry, Coinbase is soon going to go public. It has been reported that the platform has been talking with investors and attorneys in order to prepare for this move to become a publicly traded business.
Founder of L2 Counsel, Louis Lehot, the $8 billion valuation of the platform puts them in a position for a direct listing rather than an IPO.
He further said:
“Founded in 2012, Coinbase is one of—if not the—most well-known cryptocurrency platforms globally, with over 35 million users who trade virtual coins. The New York Stock Exchange, BBVA, and former Citigroup Inc. CEO Vikram Pandit are among the San Francisco-based company’s many investors. Additionally, back in 2017, it was one of the top beneficiaries of the bitcoin boom, when the original cryptocurrency jumped from $1,000 to almost $20,000.”
Adding to this, Louis further went on to explain how the platform move to a publicly-traded company could be a massive boost for the whole overall crypto space. Many companies have been having to deal with a lack of regulatory clarity over the past few years but recently, there have been some announcements that look bullish for the future.
He adds:
“A new stock market listing for Coinbase would lend legitimacy to other companies building the cryptocurrency ecosystem, and potentially pave the way for future IPOs.”
It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!