Crypto Exchange Coinbase Applied For An IPO

Crypto exchange Coinbase has applied for an IPO. Coinbase, one of the leading cryptocurrency exchanges, could break new ground.

Famous cryptocurrency exchange Coinbase has applied to the American capital markets regulator SEC for a public offering on Nasdaq. As a procedure, the application to the US regulator brought Coinbase closer to trading on the Nasdaq stock exchange, and this step was also important for the adoption of cryptocurrencies. Coibase's public offering came to the fore after Bitcoin prices ended 2020 with an increase of up to 300 percent. The company announced that it plans to hold an IPO where its existing shareholders can sell their shares, rather than a traditional public offering where new shares are sold. It was claimed in the US press that the market value of Coinbase exceeded $ 100 billion, according to the latest stock sale last week. Approaching a turnover of $ 1.1 billion in 2020, Coinbase made a profit of $ 322 million. According to the information in the application made to the SEC, 456 billion dollars of transactions have been made on the platform so far. 193.1 billion dollars of these transactions were made in 2020. It was learned that the total value of the assets on the platform is around 90 billion dollars. Coinbase, which is known to have a total of 43 million registered users, is actively trading 2.8 million people per month.     Source: Bloomberg HT