Crypto Exchange Coinbase Anticipates Direct Listing On 14th April

The United States-based digital asset exchange Coinbase recently mentioned that it expects to go public with a direct stock listing in imminent week.

As per a recent Coinbase blog, the Securities and Exchange Commission has acknowledged the virtual asset exchange’s S-1 registration for a public offering. Coinbase’s Class A common stock is likely to trade on the Nasdaq Global Select Market with the ticker symbol “COIN” on 14th April.

Coinbase had earlier been projected to go public in the month of March. However, it purportedly deferred its plans subsequent to paying a six and a half million fee as part of a settlement with the Community Futures Trading Commission.

The exchange filed its draft registration for a public offering to the Securities and Exchange Commission in the month of December, though the virtual asset exchange disclosed plans to pursue a direct listing through Nasdaq in early 2021. Notably, the company may have a valuation of hundred billion dollars at the time of its IPO, as suggested by the exchange’s shares supposedly selling for up to three hundred and seventy-five dollars each in a private auction last month.

Kraken, another renowned cryptocurrency exchange based in the United States, has not yet acknowledged that it will tread on the heels of Coinbase by going public. However, it said it would do so through a direct listing instead of a special-purpose acquisition firm.