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Cryptocurrency broker Coinbase said Thursday it has filed a draft registration statement with the Securities and Exchange Commission, paving the way for plans for a possible initial public offering.
The announcement comes as interest in bitcoin and other cryptocurrencies has skyrocketed during the coronavirus pandemic. Investors found these currencies attractive as the US dollar weakened.
Bitcoin has broken its own price records and recently passed the symbolic mark of $ 20,000 a coin. It has since continued to climb and was for the last time just under $ 23,000, according to data provider Refinitiv.
Coinbase was launched in 2012, according to its website, and “over 35 million people in over 100 countries trust Coinbase to buy, sell, store, use and earn cryptocurrency.” The company says it has more than $ 25 billion in assets on the platform and more than $ 320 billion in total volume traded.
Coinbase declined to provide further comment.
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