The Crypto industry is keenly following the news of Coinbase’s much-anticipated IPO launch for quite some time now.
The rumors have been doing rounds the crypto circle for a while; however, now the news has been confirmed as per the SEC filing.
Coinbase announces IPO filing with SEC.
Coinbase is one of the most popular crypto exchanges in the United States and enjoys a good customer base. The exchange announced that it has filed for the registration of a public offering to the United States Securities and Exchange Commission.
The Form s-1 would become effective after the authorities finish the review process and give a final go-ahead on the IPO. Coinbase said in an official announcement that it had submitted the form. However, it does not roll out “an offer to sell or the solicitation of an offer to buy any securities. Coinbase gave an extremely short announcement without revealing many details as the filing is confidential.
This week Coinbase onboarded the former Cisco Chief Finance Officer Kelly Kramer in its Board of directors as chairperson to look over the Audit and Compliance committee. The exchange also transitioned Marc Andreessen from the role of ‘Board Observer‘ to the Board of directors. The recent changes to the Board of Directors were done to pave the way for the successful IPO launch. The cryptocurrency exchanges are experiencing an eventful time as the price of Bitcoin is rallying. However, Bitcoin plummeted by $600 after Coinbase announced the IPO filing.
Coinbase came into existence in 2012, and since then the cryptocurrency traders and users have used it enormously to buy and sell crypto tokens. Lately, Bitcoin has attracted massive public attention wherein a lot of high-value institutions and high net worth individuals have shown a keen interest in procuring Bitcoin. PayPal, MicroStrategy, Grayscale are some of the prominent names investing heavily in Bitcoin and other cryptocurrencies.
As bitcoin and cryptocurrencies continue to gain mainstream attention, Coinbase has extremely bright business prospects in the coming time. The current bullish run of Bitcoin and all the happenings in the cryptocurrency have seemingly pushed Coinbase to go public.
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