Coinbase Becomes First Major Cryptocurrency Exchange to Go Public

Crypto Street is joining Wall Street with Coinbase Global Inc., the largest U.S. based cryptocurrency exchange, filing to go public. According to the Company’s blog, the route will be a direct listing of its Class A common stock.

Coinbase was founded in 2012 and is a well known and regulated cryptocurrency exchange based in the United States. Direct listing offers several advantages over an IPO such as a lower cost and minimal dilution for existing stock holders. Given the popularity of Coinbase, it would not be a surprise to find a long line of investors waiting to grab its stock on the first day of listing. In addition, Coinbase should have no lack of liquidity. Hence, direct listing makes a lot of sense for existing shareholders to access a liquidity event.

Several other large tech companies have also gone the direct listing route. Spotify and Slack are examples of companies which had done so.

The post Coinbase Becomes First Major Cryptocurrency Exchange to Go Public appeared first on SuperCryptoNews.

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