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The largest cryptocurrency exchange in the United States goes public. Coinbase, which allows investors to buy and sell various digital currencies such as bitcoin, has filed a draft registration statement for an initial public offering with the Securities and Exchange Commission, the company announced today on his blog.
Coinbase will be the largest cryptocurrency-focused company to go public and be a good test for others looking to follow suit.
Image source: Getty Images.
The announcement of the IPO comes as bitcoin is at its best. This week it exceeded $ 20,000 for the very first time, and even exceeded $ 23,000 at one point.
The bitcoin bull market has led some high profile traders to suggest that bitcoin could be worth as much as $ 250,000 or even $ 400,000 a day. Other institutional investors also view digital currency as a potential hedge against inflation.
Coinbase makes money by charging fees to investors making transactions on the platform, so that the increased volume of transactions benefits the company. It also offers custody solutions for institutional investors who wish to trade crypto assets, for which it also charges a fee.
Coinbase has over 35 million users in more than 100 countries and has seen over $ 320 billion in total volume traded through the platform.
In 2018, the company was valued at $ 8 billion after closing a $ 300 million private funding round, according to Tech Crunch.
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