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The company confirmed that the US Securities and Exchange Commission (SEC) has approved the initial public offering of Coinbase through a direct listing on the Nasdaq. Coinbase’s IPO is scheduled to make its debut in two weeks on April 14.
Coinbase Global Inc. announced on Thursday that the U.S. Securities and Exchange Commission (SEC) has announced that its initial public offering (IPO) registration statement has taken effect. The company also set an initial public offering date, stating:
Coinbase expects that its Class A common stock will begin trading on the Nasdaq Global Select Market on April 14, 2021, under the ticker symbol “COIN.”
According to Bloomberg News, the IPO has been postponed since March due to mandatory actions taken by the US Commodity Futures Trading Commission (CFTC). The derivatives regulator imposed a fine of 6.5 million U.S. dollars on cryptocurrency exchange operators on the grounds that “Lu false false, misleading or inaccurate reports and false transactions.”
The news media further conveyed the news that in the last week of trading on the Nasdaq private equity market, Coinbase was valued at approximately US$90 billion. The company is going public through a direct listing. Last week, Coinbase announced the opening of an office in India due to regulatory uncertainty, because of reports that the Indian government plans to ban cryptocurrencies.
The crypto community on social media is happy to hear that Coinbase will conduct an initial public offering within two weeks. Microstrategy CEO Michael Saylor’s company has accumulated nearly 100,000 BTC. He said: “Congratulations to the entire Coinbase team. This listing will accelerate the institution’s adoption of Bitcoin and promote a series of complementary industry plans.”
What do you think of Coinbase’s IPO? Let us know in the comments section below.
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