Coinbase goes public on a U.S. stock market first of its kind in Cryptocurrency's history




Coinbase employees in Times Square on Wednesday for the company's initial public offering.


 On Wednesday, cryptocurrencies took their biggest step yet toward wider acceptance when Coinbase Global Inc., a start-up that allows people to buy and sell cryptocurrencies, went public. Coinbase shares began trading at $328.28. That gives the company a valuation of $85.7 billion based on all its outstanding shares, more than 10 times higher than Coinbase's last private valuation.

According to Coinbase announcement, Coinbase anticipates that it Class A common stock will begin trading on the Nasdaq Global Select Market under the ticker symbol "COIN on April 14, 2021.

A copy of the prospectus related to the registration statement may be obtained by visiting EDGAR on the SEC website or via the investor relations page on Coinbase's website at investor.coinbase.com under the "SEC Filings" section.

The narration on cryptocurrencies back in the days has changed from being a tool for criminals and reckless speculators now sliding into the mainstream.

Banks are now helping investors to put their money into cryptocurrency funds. Companies like Tesla and Square are hoarding Bitcoin.

Coinbase, based in San Francisco is the first major cryptocurrency start-up to go public on the U.S. stock market.

However, many of the cryptocurrency advocates who expecting the technology to upend the global financial system are celebrating the watershed as vindication of their long-held belief in their cause's potential.

Coinbase's listing answers the question "Is cryptocurrency a real things?" said Bradley Tusk, a venture capital investor whose firm, Tusk Venture Partners, backed Coinbase. "Any industry that can launch an I.P.O. of this size is without a doubt a real thing, and it's proven by the market"

The listing gives mainstream investors who may be wary of directly buying risky digital currencies the ability to own stock in a Securities and Exchange Commission-approved Business that facilitates the transactions.

Cryptoeconomy

Coinbase claimed is building the cryptoeconomy, a more fair, accessible, efficient, and transparent financial system enabled by crypto. The company started in 2012 with the radical idea that anyone, anywhere, should be able to easily and securely send and receive Bitcoin. we offer a trusted and easy-to-use platform for accessing the broader cryptoeconomy.


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