The listing of Coinbase is approaching.
According to Cointelegraph, a cryptocurrency media outlet on the 12th (local time), the cryptocurrency exchange Coinbase will be listed on the NASDAQ through direct listing on April 14th. This will allow Coinbase’s stocks to be traded on NASDAQ, which will bring another part of the encrypted space to mainstream finance.
A spokesperson for financial services provider Fidelity told Cointelegraph that “if you do public listing yourself, your retail securities firm cannot play any role in listing before it gets listed on the exchange.” “As with existing stocks such as AAPL, FB, and MSFT, retail investors will be able to access stocks entering the exchange for the first time through direct listing.
The same is true of Coinbase’s direct listing.
Coinbase recently revealed in a blog post on Coinbase that it has chosen’Coin’ as its treasury stock ticker. Coinbase has grown significantly since its establishment in 2012. In 2018, Coinbase held an valuation of $8 billion after securing $300 million in financing rounds. In the first quarter of 2021, the highest performance ever, during this period, Coinbase’s revenue totaled $1.8 billion.
Coinbase is conducting direct listing (DPO), not IPO. Direct listing differs from the initial public offering in a number of key areas, such as participation in securities underwriters, but both contribute to the company’s listing. Securities underwriters participate in IPOs, but do not participate in DPOs.
Meanwhile, Coinbase has already sold some of its treasury stock. In March, a private transaction took place, and it was reported that the price per share ranged from $350 to $375. It is estimated that Coinbase is worth a total of $100 billion. Since then, in March, Coinbase shares 11,485,769 shares were registered with the company, and the corresponding shares will be traded as Class A common stocks.