Cryptocurrency exchange Coinbase files with regulators to go public

Platform Industry: All things crypto platforms and digital currency

Coinbase’s statement comes as Bitcoin hit a record high on Thursday, just a day after departure the $20,000 landmark for the very first time, amid surging interest from bigger investors.

Journalists at our partner news agency Reuters reported in July that Coinbase started plans for a stock-market listing and was exploring going public via a direct listing as a substitute for a standard initial public offering (IPO).

A direct listing lets insiders sell instantly and without the support of traditional underwriters – a recipe for possibly large volatility in early trading.

Coinbase did not specify in its own announcement if it might pursue an IPO or a direct listing.

If the SEC approves Coinbase’s listing plans, it might signify a milestone success for cryptocurrency advocates vying for mainstream endorsement.

Many cryptocurrencies have fought to acquire the confidence of mainstream investors and the general public because of their speculative nature and possibility of money laundering.

Founded in 2012, Coinbase is among the most famous cryptocurrency platforms globally and has over 35 million consumers in more than 100 countries.

Its CEO, Brian Armstrong, in September offered a severance package to employees reluctant to manage the cryptocurrency market’s new policy of not even amusing discussions on political and societal difficulties.

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The team at Platform Executive hope you have enjoyed the ‘Cryptocurrency exchange Coinbase files with regulators to go public‘ article. Initial reporting via our official content partners at Thomson Reuters. Reporting by Noor Zainab Hussain in Bengaluru. Editing by Anil D’Silva and Devika Syamnath.

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