It’s been a big year for Coinbase. The cryptocurrency exchange made headlines in April when it became the first crypto company to go public on the NAsdaq.
And it’s been on a roll ever since, with its stock price more than doubling since its debut.
Now, there are reports that Coinbase is considering going public itself.
The Wall Street Journal reported on Wednesday that Coinbase is in talks with investment banks about a possible initial public offering (IPO). The report, which cited people familiar with the matter, said that the talks are at an early stage and no final decision has been made.
Coinbase declined to comment on the report.
If Coinbase does decide to go public, it would be a major milestone for the crypto industry. Coinbase is one of the most well-known and respected companies in the space, and its IPO would likely be seen as a vote of confidence in the sector by mainstream investors.
It’s also worth noting that Coinbase isn’t the only crypto company considering an IPO. Messaging app Telegram is reportedly planning to go public via an SPAC later this year, and trading platform Bakkt is also said to be considering an IPO.
So will Coinbase go public? It’s certainly possible. But even if it doesn’t, it looks like 2021 is shaping up to be a big year for crypto IPOs.