Coinbase Announces Intention To Go Public With Direct Listing

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HTTP/2 200 date: Thu, 28 Jan 2021 20:41:27 GMT content-type: text/html; charset=UTF-8 set-cookie: __cfduid=d0d1b770623b824f6900b6274da5a53831611866487; expires=Sat, 27-Feb-21 20:41:27 GMT; path=/; domain=.bitcoinmagazine.com; HttpOnly; SameSite=Lax; Secure cf-ray: 618d88cafb0ccecc-IAD age: 3309 link: ; rel="https://api.w.org/", ; rel="alternate"; type="application/json", ; rel=shortlink strict-transport-security: max-age=2592000; includeSubDomains vary: Accept-Encoding, Accept-Encoding, Accept-Encoding cf-cache-status: HIT cf-apo-via: cache cf-edge-cache: cache,platform=wordpress cf-request-id: 07ec53d2de0000cecc8f0f8000000001 expect-ct: max-age=604800, report-uri="https://report-uri.cloudflare.com/cdn-cgi/beacon/expect-ct" x-cache: HIT: 5 x-cache-group: bot x-cacheable: bot x-content-type-options: nosniff x-powered-by: WP Engine server: cloudflare Coinbase Announces Intention To Go Public With Direct Listing – Bitcoin Magazine

After its head of research expressed optimism, the Bitwise bitcoin ETF proposal has been rejected by the U.S. Securities and Exchange Commission.

Cryptocurrency exchange Coinbase announced its plan to become a publicly-traded company via a proposed direct listing of its Class A common stock, according to a post on its corporate blog ^[2].

As one of the largest and longest-standing cryptocurrency exchanges, a public listing for Coinbase would mark a significant step toward mainstream financial inclusion for the Bitcoin industry and its related businesses.

In December 2020, Coinbase announced ^[3] that it had submitted a draft registration statement via Form S-1 with the U.S. Securities And Exchange Commission (SEC), a filing used by companies to register their securities before going public. Today’s announcement further clarified that Coinbase plans to list its stock directly, as opposed to conducting an initial public offering (IPO). When companies conduct IPOs, they create new shares that are underwritten and sold to the public. A direct listing sells only existing, outstanding shares without involving underwriters.

TagsCoinbase ^[4]

Peter Chawaga ^[5]Peter Chawaga is a senior editor at Bitcoin Magazine. He HODLs BTC.

Coinbase Announces Intention To Go Public With Direct Listing – Bitcoin Magazine

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