The US Securities and Exchange Commission (SEC) has approved Coinbase’s initial public offering (IPO) via a direct listing on Nasdaq, the company has confirmed. Coinbase’s IPO will take place in two weeks, on April 14.
Coinbase IPO will take place in 2 weeks
Coinbase Global Inc. announced Thursday that the U.S. Securities and Exchange Commission (SEC) has announced that the registration statement related to the company’s initial public offering (IPO) has become effective. The company has also set a date for its IPO, she added:
Coinbase expects the Class A common shares to be issued on the 14th. April 2021 trading will begin on the Nasdaq Global Select Market under the symbol COIN.
The IPO has been delayed since March after the US Commodity Futures Trading Commission (CFTC) took enforcement action, Bloomberg reported. The derivatives regulator has fined the cryptocurrency exchange operator $6.5 million for reckless lying, misrepresentation, and trade-washing.
In the last week of trading on the Nasdaq private market, the currency base was worth about $90 billion, according to the news outlet. The company is listed on the stock exchange through a direct listing. Last week, Coinbase announced its Indian branch amid regulatory uncertainty due to reports that the Indian government is considering a ban on cryptocurrencies.
The crypto community on social media is excited to hear that Coinbase is going public in two weeks. Microstrategy CEO Michael Saylor, whose company has raised nearly 100,000 BTC, said: Congratulations to the entire Coinbase team. This listing will accelerate the institutional adoption of bitcoin and serve as a catalyst for many other initiatives in the sector.
What do you think of Coinbase’s IPO? Let us know your comments in the section below.
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