Coinbase exchange is planning to launch an IPO as soon as possible in the US stock market.
USA biggest crypto Exchange Coinbase wants to launch its own IPO in USA market as soon as possible .if the Coinbase exchange get permission to launch this IPO that it will support the get the green light for the legalization of the cryptocurrencies in the USA.
As a key player in North America, the public listing of Coinbase on a significant U.S stock exchange could lead to more awareness and an improved public perception towards cryptocurrencies.
Cryptocurrencies have time and time again tried to infiltrate the traditional financial marketplace with Bitcoin ETFs.
But the SEC refused to budge, citing the risk involved with Bitcoin. Once again, the SEC remains a major obstacle to be overcome. Coinbase can only go public if the SEC allows it.
If Coinbase is permitted to go ahead with its IPO, the SEC will be acknowledging that cryptocurrencies are here to stay by allowing a company deeply involved with the industry to trade on a stock exchange.
The New York Times reports that sources close to the publication believe Coinbase will take the direct listing route rather than a traditional IPO.
This means investors and employees will sell their existing shares in Coinbase to the public, rather than the company issuing new shares.
JULY 09, 2020
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