Coinbase Identifies Nakamoto as a Risk Factor!
Cryptocurrency exchange Coinbase stated that Satoshi Nakamoto, the mysterious creator of Bitcoin, is a risk factor.
Coinbase identifies Nakamoto as a risk factor. The cryptocurrency exchange Coinbase, which filed for an IPO last week, identified the creator of Bitcoin, Satoshi Nakamoto, as a risk to the cryptocurrency market in its application documents.
While the shares of the famous billionaire Elon Musk for the crypto money market were defined as a risk, Coinbase, which applied for an IPO, reported that it sees Nakamoto as a risk.
It was stated in the application documents that if the mysterious creator appears, there may be serious declines in Bitcoin prices. In addition, the documents revealed the possibility of Nakamoto’s disposal of the Bitcoin portfolio, which is estimated to be over 1 million, as a major risk factor. Nakamoto has been warned that issuing BTCs in his possession could destabilize the market. It is stated that the Bitcoins in the hands of the mysterious creator make up 5 percent of the market.
Coinbase Prepares To Go Public
Last week, Coinbase Global Inc. announced that it was applying for an IPO to the SEC.
Coinbase got out of the funding round managed by Tiger Global Management in 2018 with a valuation of over $ 8 billion. The company, which started operating in 2021, had raised more than $ 500 million from this tour. Coinbase states that it has more than 35 million approved users in over 100 countries and that the amount of assets on its platform is over $ 25 billion.