Coinbase Plans to Launch IPO in 2021
The company was valued at $8 billion during a private funding round in 2018. Coinbase is the largest crypto exchange by users, with over 30 million customers.
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In a statement published on Coinbase’s blog, the company stated that they have “confidentially submitted a draft registration statement on Form S-1 with the Securities and Exchange Commission (the “SEC”).” and that the form is “expected to become effective.”
The IPO will likely fetch a much higher price than $8 billion, as cryptocurrency prices and Coinbase’s volume have increased since 2018.
Going public could help them raise funds to expand their operations. It will also give US investors a pure play crypto exchange to invest in, a first for regulated public markets in the US. They are also the largest exchange by volume in the US and the most well established, operating in the US since 2011.
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