Coinbase Announces Proposed Direct Listing Amid Crypto Boom

A few minutes ago it was announced that Coinbase wanted to become a publicly traded company. The company wrote in a blog post on Jan. 28:

“Coinbase Global, Inc. today announced its intention to become a publicly traded company under a proposed direct listing of its Class A common shares. Such proposed listing is expected to be made under a registration statement on Form S-1 with the Securities and Exchange Commission (the “SEC”). “

This is not an IPO. Instead, Coinbase would allow existing shareholders to trade their positions on the primary market.

It did so shortly after the company announced it had filed a draft registration statement on Form S-1 with the SEC in confidence.

Coinbase will be the first major cryptocurrency company to trade on a major US exchange if it pushes this direct listing process.

Coinbase’s decision to go public comes because the crypto market is seeing a surge in institutional and retail interest as prices go up.

Disclaimer: This author is an analyst at ParaFi Capital. ParaFi Capital may hold positions in the assets mentioned in this article. The views displayed in this article are the opinions of the author – and the author only.

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