Coinbase is adding two industry veterans to prepare the last details for its potential Initial Public Offering, IPO

Coinbase is preparing to go public; the main cryptocurrency exchange in the United States filed preliminary documents with the Securities and Exchange Commission (SEC). A lot has been under speculation in recent months about Coinbase’s Initial Public Offering (IPO). But this moment, right after the Bitcoin price record, cannot be ignored.

The major exchange is ranking itself as Wall Street’s most accessible bet to date in cryptocurrencies. In October 2018, Coinbase reached a value of $ 8 billion. Given the stratospheric rise in the price of Bitcoin since then and the recent demand for initial public offerings, Coinbase’s current valuation expects to rise significantly higher in the future.

“Form S-1 is expected to go into effect after the SEC completes its review process, subject to market and other conditions,” the firm wrote in a blog post.

The blog post says the following words:

“Coinbase Global, Inc. announced today that it has confidentially filed 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.

This announcement does not constitute an offer to sell or a solicitation of an offer to buy securities. Any offer or appeal to buy or sell securities will work following the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”). This announcement goes under Rule 135 of the Securities Law”.

Coinbase said it filed it confidentially with the Securities and Exchange Commission.

That is the first formal step on the long road to an Initial Public Offering. But the document is still unavailable on the SEC’s portal, leading the media to wonder if it is an IPO.

It is not entirely clear whether Coinbase seeks to go public through an initial public offering or a direct listing. Some people rumored first that Coinbase was to be exploring a listing on the stock market in July 2020, when Reuters reported that it had begun the process of taking its shares public. Anonymous sources said at the time that Coinbase was looking for a direct listing, rather than an IPO.

An Initial Public Offering is an operation that is conducted through the stock market, through which a bidder puts up for sale some financial asset of a company or a society. For its part, in a direct listing, the price of the shares relates to the behavior of the market.

Both IPOs and direct listings require S-1 forms, according to a blog post by Andreessen Horowitz, a key Coinbase investor. The form Coinbase submits is confidential, which means its content will not see release until three weeks before the exchange’s tour, which is the moment that the company uses to attract potential investors.

The influence of the company touches all corners of the cryptocurrency industry. It is a major hub for bitcoin retail and a gateway for alternative cryptocurrencies. a Wall Street class eager to expose itself to the crypto markets. This situation could be helpful for a Wall Street class to be eager to expose itself to the crypto markets.

By: Jenson Nuñez.

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