According to a recent report, San Francisco-based cryptocurrency exchange Coinbase is said to be planning to sell shares on the Nasdaq private market before the initial public offering (IPO). According to reports, Coinbase has notified shareholders that they will receive information about the private sale this week.
Report indicates that Coinbase may sell shares through the Nasdaq private equity market before the IPO
Coinbase is the largest digital currency exchange in the United States and one of the largest trading platforms in the world. According to Bituniverse’s trading balance rankings, at the time of publication, between BTC and ETH deposits, Coinbase holds more than $40 billion in digital asset management (AUM). As for other digital assets under management, the San Francisco Exchange recently stated that it holds $90 billion in cryptocurrency AUM.
In mid-December, Coinbase announced its secret application for the S-1 IPO with the US Securities and Exchange Commission (SEC). On Friday, Frank Chaparro, a financial columnist at The Block, reported that Coinbase would sell shares privately before the IPO.
“On Monday, January 25, at noon Pacific time, you will receive an email from the Nasdaq Private Market with detailed information including how you enter the market, the stocks eligible to trade, and how the market works. “Coinbase shareholders detailed.
Estimates show that the pre-IPO of Coinbase has a large demand for futures, indicating that the valuation of cryptocurrency companies may reach US$2 to US$70 billion.
There are rumors that Coinbase will use the financial institution Goldman Sachs to lead the IPO. In addition, pre-IPO futures (CBSE) are also traded on the cryptocurrency exchange platform FTX. At the time of publication, FTX’s CBSE/USD market showed that the pre-IPO futures trading price was $272 per unit. CBSE is one of the largest tokenized stock markets on FTX, and it performs better than vaccine companies’ token stocks on FTX, called Moderna (MRNA).
There are a few different predictions about the overall value of Coinbase after the initial public offering. An analysis by messari.io analyst Mira Christanto detailed that Coinbase “may see the company’s valuation reach $28 billion.” Research compiled by The Block estimates the San Francisco company The valuation may reach 70 billion US dollars.
What is your opinion on Coinbase selling its shares privately through the Nasdaq private equity market? Let us know your thoughts on this topic in the comments section below.
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