Coinbase Plans to Go Public in $1 Billion Direct Listing
Coinbase, the largest cryptocurrency exchange in the U.S., has filed a registration statement with the Securities and Exchange Commission to go public through a direct listing.
The exchange, which enables people to buy and sell digital assets such as Bitcoin (CRYPTO: BTC), is looking to raise up to $1 billion in the offering and could be valued for as much as $100 billion, according to various media outlets. The company plans to list on the NASDAQ.
By choosing to go public through a direct listing, instead of offering new shares as with a traditional initial public offering, existing investors and employees will convert their current stakes in the company to stock and sell it to the public.
Source Fool.com
