After a long wait and lots of speculation, it is now official. Coinbase – the largest crypto exchange in the United States – is going public on the Nasdaq Stock Market, the second largest stock market exchange by market capitalization after the New York Stock Exchange (NYSE).
The Coinbase stock will debut on April 14, 2021 under the ‘COIN’ sticker symbol and is expected to list at anywhere between $300 – $350.
Coinbase had traded on the Nasdaq private markets in March 2021 at an average price of $343.58 which would bring Coinbase valuation at about $100 billion.
According to the press statement by Coinbase on the upcoming listing:
“Coinbase Global, Inc., today announced that its registration statement on Form S-1, as filed with the Securities and Exchange Commission (the “SEC”), relating to a proposed public direct listing of its Class A common stock was declared effective by the SEC on April 1, 2021.
The registration statement relating to these securities has been filed with, and declared effective by, the SEC.”
Here are some of the latest stats on Coinbase:
Coinbase has over 43 million verified users worldwide and over 2.8 million people actively exchange every month
Coinbase has traded over $455 billion in total since its inception
Coinbase has over 1, 200 employees
Coinbase operates in over 100 countries worldwide
Coinbase has over 7, 000 institutions as part of its customer base
Coinbase has over 115, 000 ecosystem partners
Coinbase generated over $1 billion in revenue in 2020, a 136 percent increase on 2019
It also generated $322 million in net profit, the first time it made a yearly profit since 2017
Coinbase significantly increased its assets under management in 2020, from $35 to $90 billion
First launched in 2012, Coinbase is the largest regulated cryptocurrency exchange in the United States, with Coinbase Pro handling more than $3 billion in daily transactions according to CoinMarketCap.
The exchange is is credited with playing a big role in today’s cryptocurrency adoption levels.
Based on the expected stock listing value, Coinbase CEO, Brian Armstrong’s 39.6 million shares will be worth $13.6 billion, officially bringing him to billionaire status level.