Coinbase, a San Francisco Company, is planning to go public on April 14 for the first time in the global e-market for exchange of securities. Coinbase that started in 2012 with the aim to solve the problem of sending and receiving bitcoin globally, is now the largest crypto exchange company in the US. For accessing a broader crypto economy, Coinbase is the best option.
According to a source made available to Bloomberg, the 2 week plan on a direct listing will be available a day after Coinbase discloses its reference price to help guide investors. The Security and Exchange Commission is still reviewing the planned debut, but Coinbase has already confirmed the projection to operate in the public for the first time on Nasdaq through a direct listing.
In a statement made available by Coinbase on April 1st, 2021, the Security and Exchange Commission declared their S-1 registration statement effective and that they expect the direct listing to occur on April 14, 2021, with their Class A common stock trading on the Nasdaq under the ticker symbol COIN.
The initial set target date was March 2021, as previously reported by Bloomberg and confirmed by the company. However, a source told Bloomberg that the timing could still change from April 14 as the SEC is still reviewing the planned debut.
The US Security and Exchange Commission is still reviewing the planned debut. If the agency approves that, the digital currency ecosystem will mark a major goal. Due to the announcement on the direct listing, Coinbase has a higher valuation of $68 billion in March alone. The bitcoin price keeps on falling as India plans to ban the use of crypto within her domain and investors consolidated gains since the potential listing was announced.
From the regulatory filing provided last month by Coinbase, a detailed look at Coinbase’s finance since 2021 when it started, shows that as bitcoin value increases there is an increase in profit made by Coinbase last year. Being one of the best cryptocurrency platforms in the world, Coinbase has registered shares worth over 114.9 million USD according to the filing.
In March 2021, the price of bitcoin hit record highs and this has resulted in an increased figure made by Coinbase the value of which increased together with the price of bitcoin.
Coinbase’s plan to go public is not dependent on the capital raised by the Company for now as it planned to go public through a direct listing.
With the capacity of the company, having operations in more than 100 countries with over 43 million users, Coinbase will be a major direct listing on the Nasdaq.
During the quarter through March 15, the low price per share was $200.00 and &375.01 during the high sales price per share all in the private market.
Coinbase stopped selling shares to investors ahead of its market debut since it submitted to the United State regulator paperwork to go public through a direct listing.