Coinbase: World’s most valuable crypto exchange opts for a direct listing

The world’s most valuable crypto exchange, Coinbase, recently announced its intention to go public through a direct listing, thereby skipping the traditional IPO route.

Founded over a decade ago, the fast-rising American crypto company has grown to become the biggest crypto exchange in the U.S. and is hitting the public market amid renewed investor interest in digital assets.

Flagship crypto, Bitcoin, at the time of writing this report is trading at about $34,000, gaining over 260% in the past year.

What this means: Coinbase is currently opting for direct listings rather than the traditional IPOs, in order to avoid diluting its existing shareholders and handing over cheap stock to new investors.

Here are highlights of the press release issued by America’s biggest crypto exchange via its web page.

  • Coinbase Global, Inc. today announced its intent to become a publicly-traded company pursuant to a proposed direct listing of its Class A common stock.
  • Such proposed listing is expected to be pursuant to a registration statement on Form S-1 with the Securities and Exchange Commission (the “SEC”).
  • Coinbase Global Inc. previously announced on December 17, 2020, that it had confidentially submitted a draft registration statement on Form S-1 with the SEC.
  • The Form S-1 is expected to become effective after the SEC completes its review process, subject to market and other conditions.

Coinbase remains by far the most valuable crypto exchange in the world, which was most recently valued at around $8 billion. It is the largest American-based cryptocurrency exchange by trading volume and leading crypto brand respected by many institutional investors.


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