Coinbase has filed with the SEC in what would be the first major initial public offering by a crypto company.
Arguably the crypto industry’s most anticipated initial public offering has moved one step closer.
As crypto exchange Coinbase announced yesterday (Thursday), it has filed a corresponding application with the U.S. Securities and Exchange Commission (SEC) for a so-called „initial public offering“ (IPO). Thus, it writes:
„The S-1 filing will become effective once the SEC completes its review process, which is subject to market and other factors.“
According to the latest official valuation of 2018, Coinbase’s market value is $8 billion. The crypto exchange is one of the biggest players in the industry and is known for its close cooperation with regulators. Based on this, many observers believe it is likely that Coinbase will be the first major crypto company to be approved for an IPO.
However, since the content of the S-1 application is confidential, there is no further information about the crypto exchange’s application for now. After their announcement, Bitcoin Aussie System had fallen by a little more than 600 US dollars in the meantime, but this does not necessarily have to be related.
Coinbase has been eyeing an IPO for quite some time. But not only Coinbase itself, but the entire crypto industry is eagerly awaiting such an IPO, which would make a major crypto company tradable on Wall Street for the first time. So far, the U.S. Securities and Exchange Commission has mostly put a stop to such efforts. Mining hardware manufacturer Canaan Creative is the only notable crypto company that has managed an IPO so far. However, the associated security has not performed well so far, which makes hopes in Coinbase all the higher.
At press time, Coinbase has not yet responded to Cointelegraph’s inquiry.