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Saturday, May 15, 2021

Coinbase Opts Directs Listing Over Public Markets

Coinbase is one the largest wallet service in the digital currency market. Recently on 28th January, Thursday, they have made an announcement through a post on their official blog. They have revealed that very soon they will be entering public markets. They intend on doing this through a way of direct listing.

During the month of December 2020, Coinbase had disclosed that they had filed an S-1 in a confidential manner. The filing was made in the US Securities & Exchange Commission. On the other hand, they did not make the S-1 public as of now.

Coinbase Quitting IPO In Favor Of Direct Listing

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The headquarters of Coinbase is located in San Francisco. The company was founded in the year 2012 with the intention of enabling their traders to buy, sell, and transact with Bitcoin, the leading cryptocurrency according to market capitalization. 

BTC is presently trading at a little less than $33,000 following their successful rally to a record high during the beginning of the month of January 2021. The price is only predicted to go up.  

In recent times, direct listing has become very popular and most companies are opting for this method to enter public markets. This is due to the reason that companies get an opportunity to trade on the public exchange without any extra money or the hassle of the conventional IPO.

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Any company with direct listing begins trading without selling the share blocks. As a result, they need not raise any new capital. Founders, shareholders, and existing investors of companies opt for direct listing because it offers an easy way to liquidity.

Coinbase has managed to raise almost $547.3 million since it was founded.

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