Coinbase hires Goldman Sachs to lead IPO launch
2 min readTL;DR Breakdown
- Goldman Sachs to lead Coinbase IPO launch
- Messari rates exchange high after IPO move
Goldman Sachs is set to take the lead in Coinbase listing on the American stock exchange, Reuters report.
The American crypto exchange firm, called on Goldman Sachs to lead its Initial Public Offering launch after it recently filed its paperwork with the U.S. Securities and Exchange Commission to go public.
Coinbase, if successful with its application, would be the first crypto exchange to list on the stock market.
The exchange plan to go public comes months after it raised $8 billion at a valuation round. Also, the exchange firm has been rumored to plot an IPO.
Coinbase plans to go public
The firm started plans to debut in the stock market in July. The firm intended for a direct listing rather than an IPO. However, it remains unclear how Coinbase would launch its IPO.
The exchange announced filing its draft registration with the SEC on December 18th in a blog post. The firm has also been ruled to be a good prospect in the stock market, being one of the leading exchange firms.
Coinbase Pro has a trading volume of $1.89 billion over 24 hours, according to CoinMarketCap. It has over $25 billion in assets from over 35 million users. Based on its 2018 valuation, The firm was worth $8 billion.
Similarly, crypto enthusiasts are said to be waiting to acquire shares of a crypto firm, and with the exchange’s prospect, the IPO should be a success.
After IPO, Messari rates exchange firm high
Before the exchange revealed it planned to go for an IPO, Asset research firm Messari has tipped the exchange to go public.
Messari owing to the exchange firm’s strength in the crypto space, an excellent relationship Coinbase has with regulators. After the exchange, shares were priced on the secondary market between $7 – $12 billion and tipped it for a mega IPO.
The Asset research firm also has valued Coinbase to worth $28 billion after an IPO launch.
