Victor Ugochukwu · Dec 14, 2020 . 5min read
Breaking: Coinbase readies for an IPO
US exchange Coinbase is preparing for a much-awaited IPO according to anonymous sources close to the matter.
By Rakesh Kapoor · Jul 9, 2020 . 4min read
With almost a decade under its belt, Coinbase seems to be preparing for an IPO. This makes the exchange, considered as the poster child for cryptocurrency exchanges in the U.S, the first major exchange in the US to go public.
According to Reuters both SEC and Coinbase declined to comment on rumors or speculation. Anonymous sources close to the matter said that the public listing could happen later this year or in early 2021, however, since the plans are still underway, things could change.
The cryptocurrency landscape has evolved from being a ‘curious technological innovation’ to being involved in scams. It has also gone through the phase of being a speculative asset, however, while some cryptocurrencies are in the clear, others are yet to be classified.
If securities, then a lot of projects will face extinction or a massive fine. Coinbase has followed its listing policies from the start to avoid confusion or falling under the radar of law enforcement. Regardless, a specific guideline around virtual currencies is still yet to be seen by the SEC.
Coinbase IPO might value the company at $8 billion
In a 2018 fundraising led by Tiger Global Management, the US exchange was valued at a whopping $8 billion.
Coinbase booked revenue of $1 billion in 2017 and is expected to bring in $1.3 billion this year despite the slump in bitcoin, according to media reports.Reuters
At the time of writing, Coinbase has 20 million monthly visitors and has more than 35 million users who trade various cryptocurrencies, including bitcoin, Ethereum, and XRP.
Regardless of its valuation, the exchange has a lot of problems when it comes to handling loads during times of flash crash or immediate surge. The exchange recently saw an outage when Bitcoin dropped as much as $1,400, a few months ago.
Coinbase CEO: Ousted Trump administration trying to sneak in adverse regulation on Non-custodial wallets
Brian expatiated on the adverse effects should the policy be implemented. Coinbase CEO laid why the non-custodial wallet policy would be such a bad move.
Victor Ugochukwu · Nov 26, 2020 . 7min read