Crypto Exchange Coinbase Officially Files for IPO
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The largest cryptocurrency exchange in the United States, Coinbase, has announced it had submitted a draft registration statement on Form S-1. The company says the Form S-1 is expected to become effective "after the SEC completes its review process, subject to market and other conditions."

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Coinbase emphasizes that its notification does not serve as an offer to purchase any securities.

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Meltem Demirors, CoinShares CSO, believes that Coinbase's move "will be the first meaningful exit," which means more allocation to crypto companies going forward.

"I believe that this will be a monster IPO and the first of many to come in 2021. This and future IPOs will further enable investors at both an institutional and retail level to get more pure-play exposure to crypto-assets," Demirors added.

During the last investment round in October 2018, Coinbase raised $300 million, and was valued at $8 billion. Messari analysts project that after going public, the company's capitalization may reach $28 billion.

iHodl reported back in July 2020 that Coinbase is planning for a stock market listing that could come as early as this year. If Coinbase succeeds, it may be the first US-based cryptocurrency exchange to go public.

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