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Coinbase considering an IPO: stock market listing
Coinbase considering an IPO: stock market listing
Crypto

Coinbase considering an IPO: stock market listing

By Eleonora Spagnolo - 10 Jul 2020

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Coinbase is preparing its IPO (Initial Public Offering), as a plan to be listed on the stock market. This was reported by Reuters, which cites reliable sources. 

Official confirmation is currently lacking from Coinbase and the CEO Brian Armstrong. 

The news is quite unusual. Coinbase would be the first major cryptocurrency company to go public by being listed on the stock exchange. But first, it will require the green light from the SEC. 

And the SEC, as is well known, is not exactly known to be crypto-friendly, which is demonstrated by the long history with the approval of Bitcoin ETFs. 

In any case, the sources quoted by Reuters say that the stock market listing could arrive as early as the end of the year. At the moment, however, negotiations with the SEC have not yet begun, although the US company is studying what legal path to pursue. 

If and when this happens, it would be a turning point for the crypto industry. A sector that the Securities and Exchange Commission has not yet fully regulated.

At the moment there is only one certainty: Coinbase has just hired a new head of the legal department: Paul Grewal, who has a respectable track record.

The new head of the legal department comes from Facebook, and before that, he was a judge in the Northern District of California. 

He seems to be one of the top experts in technology and legality, having followed thousands of cases that have led him to immerse himself in the legal aspects related to technology. Two cases in particular:

  • Apple vs. Samsung
  • Google vs. Oracle. 

His task at Coinbase will be to oversee all legal aspects in order to grow the company. He will also work with regulators, 

“To contribute to the development and rollout of innovative, regulated products and services, and support the company’s global growth and regulatory strategy”. 

Who knows whether this new entry will lead to a listing on the stock market. 

Coinbase, an $8 billion company

Coinbase is one of the largest crypto companies in the United States. Forbes ranks it as the third-largest fintech company with over €8 billion in assets

Founded in 2012 with the aim of making Bitcoin accessible to all, at a time when cryptocurrencies were not yet well known, it now boasts:

  • 35 million users,
  • $220 billion in transactions,
  • 7 billion in Coinbase Custody,
  • 100 countries reached,
  • 1,000 employees.

The stock market launch is likely to further grow the company. 

 

Eleonora Spagnolo
Eleonora Spagnolo

Journalist passionate about the web and the digital world. She graduated with honours in Multimedia Publishing at the University La Sapienza in Rome and completed a master's degree in Web and Social Media Marketing.

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