Coinbase Files A Draft Registration Statement With SEC For A Public Offering
Coinbase, one of the prominent cryptocurrency exchanges in the crypto space, is making preparations for going public and has moved one step closer towards this destination. The United States-based digital currency exchange has filed with the United States Securities and Exchange Commission (SEC) to go public. This filing has come ahead of the potential Initial Public Offering (IPO) of the exchange and amid the ongoing bullish run of the world’s largest digital currency by market value Bitcoin (BTC).
Draft Registration Statement on Form S-1
The leading crypto exchange has revealed its filing with SEC in a blog post published on Thursday, the 17th of November. Coinbase said that it has confidentially filed a draft registration statement with the Securities and Exchange Commission for a public offering. As per the blog post, the draft registration statement has been filed on Form S-1. The draft is subjected to SEC’s review now. As soon as the SEC is done with its review process, Form S-1 may become effective.
As Coinbase said in the post:
“Coinbase Global, Inc. today announced that it has confidentially submitted a draft registration statement on Form S-1 with the Securities and Exchange Commission (the “SEC”). The Form S-1 is expected to become effective after the SEC completes its review process, subject to market and other conditions.”
We expect the Form S-1 to become effective and for Coinbase to complete a public offering after the SEC completes its review process, subject to market and other conditions. This Tweet does not constitute an offer of any securities for sale.
— Coinbase (@coinbase) December 17, 2020
Coinbase Eyes At Initial Public Offering
Coinbase has been planning on conducting an initial public offering for some months as it plans to go public. It is indeed one of the much-anticipated IPOs in the cryptocurrency space. Back in July, some resources revealed that the crypto exchange intends to make a debut on the United States stock market. Now, this official announcement from Coinbase has provided confirmation on these rumors. The cryptocurrency exchange has not clearly revealed, however, whether it plans to go public through a direct listing or by conducting an initial public offering.
Based in the United States, Coinbase is valued at $8 billion and it is one of the top cryptocurrency exchanges in the cryptocurrency world. It has been collaborating with the country’s regulatory authorities in the past and has a good reputation in this case.
This filing of Coinbase for the public offering has come at a time when the world’s top-ranked digital currency is standing at the peak of its bullish cycle. On the day of Coinbase’s announcement, the price value of Bitcoin jumped above the figure of $23,000 for the first time in history.
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