Coinbase provides additional details on how to enter the stock exchange and public trading
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Answer Coinbase provides additional details on how to enter the stock exchange and public trading
Coinbase, the company behind Coinbase, one of the largest cryptocurrency exchanges based in San Francisco, today announced its plans to go public through a direct listing instead of an IPO as was announced at the time. former.
The company, which announced its plans to go public last month, shared the news on its official blog, which stated the following:
Coinbase Global today announced its intention to become a public company pursuant to a proposed direct listing of its Class A common stock.
The proposed listing is expected to be in accordance with the registration statement on Form S-1 with the SEC.
Read:WikiLeaks Holds Over $46 Million in Bitcoin
Fraction: Coinbase opts for direct listing over IPO.
Possible main causes:
– Strong market demand / No need to help generate liquidity
– No reservation for early investors (shares can be sold immediately)
I think early investors see an impending euphoria in the market…
— James Todaro, MD (@JamesTodaroMD) January 28, 2021
Crucially, direct listing is not an initial public offering, as the public offering involves the creation of new shares, and direct listing is limited to existing shares.
In December, Coinbase said it had submitted a draft of its S-1 form to the SEC.
Messi has estimated that Coinbase was valued at $28 billion at the time.
If the regulator approves the deposit, Coinbase will become the first publicly tradable cryptocurrency exchange.
Intentionally or unintentionally, the announcement coincides with chaos in traditional markets, as an army of retail investors on Reddit continue to pump up GameStop’s share price.
Some have interpreted the turmoil as an indirect endorsement of decentralization.
Read:Hackers steal more than 200 million dollars from trading platforms, including platforms in the Middle East
Read also:
The intensification of competition between decentralized trading platforms … and the digital currency “UNI” reaches a new record
A simple guide to what the Hyperledger project is.
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