Coinbase is Going Public
coinbase is going public and its S-1 filing has been released.
coinbase is the largest cryptocurrency exchange in the US. in 2018 it was valued at $8 billion. in 2020 it was valued at $77 billion. it is currently valued at over $100 billion.
in the filing the company confirmed it has 43 million retail users and 7000 institutional clients. it operates in over 100 countries.
the valuation is a result of trading on the nasdaq private market.
coinbase has been the exchange which handled the microstrategy purchases and also the tesla $1.5 billion purchase. its customer base is now more heavily weighted to institutional investors.
the ipo will be a direct listing rather than being offered through a broker.