Coinbase goes public

Coinbase will be the first cryptocurrency exchange to go public in the United States.

The crypto exchange platform was supposed to be public last month but was reported to have slowed its plans due to the payment of its $6.5 million fees as a settlement in part for the Community Future Trading Commission or CFTC.

Having escaped the regulatory body’s scrutiny it's time to look forward to public listing. The fees were to be paid due to the reports of an employee “self-trading” to give the picture of increased volume and demand for Litecoin. This was announced sometime early last month.

Coinbase, the American cryptocurrency exchange on its blog says it may be going public with a direct listing after the Security and Exchange Commission (SEC) gave its declarations about the exchange platform’s S-1 registration for a public offering effective.

Any state with laws or jurisdiction against such offers, sales, or solicitation before the registration still has those laws and so sales or solicitations and offers will still be unlawful.

On April 14th, Coinbase may be having its Class A common stock on Nasdaq Global Select Market with the symbol “COIN”.

In December, Coinbase gave its draft registration for its proposed public offering to the SEC.

Coinbase had made public its plans to have a direct listing with Nasdaq at the beginning of 2021.

The exchange is speculated to have a valuation of $100 billion at the time of its initial public offering. The firm’s private auction held in march sold shares for up to $375.

Coinbase was launched in 2012 as a Bitcoin exchange, and is one of the giants of a cryptocurrency exchange in America, offering expert handling over $3 billion in transactions daily as reported by CoinMarketCap.

Another cryptocurrency exchange firm in California Kraken is yet to confirm if it will be next to go public following Coinbase’s pubic listing.