Coinbase To Float Around 115 Million Shares in Nasdaq Listing

Coinbase, the top US crypto exchange, said on Wednesday that it had registered around 114.9 million shares for its direct listing on the Nasdaq, which it’s opted for instead of a traditional IPO.

The San Francisco-based exchange announced its plans to go public in January 2021, and it filed its Form S-1 with the SEC in February, providing would-be investors with a detailed overview of a company going public, including its financial information and risk factors.

The filing revealed that the exchange brought in a $322 million profit on revenues of over $1.2 billion in 2020.