It’s official – Coinbase, one of the largest and most popular cryptocurrency exchanges, has filed to go public. The move is a major milestone for both the crypto industry and Coinbase itself, which has been widely anticipated since the company announced its intention to go public last year.
The filing was submitted to the US Securities and Exchange Commission (SEC) on Thursday, March 18. Coinbase plans to list its Class A common stock on the NAsdaq Global Select Market under the ticker “COIN”.
Coinbase first announced its plans to go public in December 2020, just a few months after it was reported that the company was exploring a direct listing. At the time, Coinbase said that it had confidentially submitted a draft registration statement with the SEC.
The filing comes as no surprise, given that Coinbase has been one of the most successful companies in the crypto space. The company has been profitable for three years in a row and generated $1.
8 billion in revenue in 2020.
Coinbase’s public debut will be a major event for the crypto industry, which has largely been relegated to the fringes of the financial world. A successful listing would legitimize cryptocurrencies and could pave the way for more mainstream adoption.
It remains to be seen how investors will react to Coinbase’s public offering. The company’s share price will likely be volatile in the early days of trading, given the volatile nature of cryptocurrencies themselves.
But over time, Coinbase could become one of the most important companies in the space if it can continue to grow at its current pace.