43 million users in more than 100 countries – Coinbase is one of the largest crypto trading papers in the world. Now the company wants to go public in a special procedure.
Dhe American trading platform for cryptocurrencies Coinbase wants to go public via direct placement. The move is planned for April 14th on the American technology exchange Nasdaq, the company announced on Thursday. The SEC has already approved the plan.
The trading platform announced in January that it wanted to go public. Coinbase’s leap onto the trading floor is likely to be a milestone on the way to widespread acceptance of cryptocurrencies as an asset class. Coinbase was founded in 2012 and is used by more than 43 million people in more than 100 countries. According to its own information, Coinbase was last valued at $ 68 billion.
With a direct placement, no syndicate leaders are required, which saves the company high fees. The shares are registered directly on the stock exchange without the usual pricing procedure. According to CNBC, it is the first major Nasdaq direct placement.
In March, Coinbase was forced to make a multi-million dollar payment. The American derivatives regulator CFTC fined the crypto platform $ 6.5 million. The reason was false, misleading and inaccurate reports on transactions in digital assets including Bitcoin between January 2015 and September 2018, the authority said at the time.