With direct stock listing in two weeks, U.S based crypto exchange has announced that they anticipate going public in two weeks.
The Exchange’s S-1 registration public offering hearing has been declared by the U.S Securities and Exchange Commission or SEC. The Nasdaq Global Select Market under the ticker symbol is COIN is where Class A is expected to trade.
After paying a $6.5 million fee as part of a settlement with the Community Futures Trading Commission, is the reason, the Crypto exchange delayed going public as anticipated in March.
Though there are plans by Coinbase to pursue direct listing through Nasdaq in early, 2021, the Crypo Exchange sent its draft registration for a public offering to the SEC in December. As suggested by the exchange’s shares reportedly selling for up to $375 each in a private auction last month, the firm may have $100 billion valuation at the time of public offering.
First launched in 2012, Coinbase is one of the largest cryptocurrency exchanges in the United States, with Coinbase Pro handling more than $3 billion in daily transactions according to CoinMarketCap. Crypto exchange Kraken, also based in California, has not yet confirmed that it will follow in Coinbase’s footsteps by going public, but said it would do so through a direct listing rather than a special-purpose acquisition company.