According to a recent report, the US-based cryptocurrency exchange giant Coinbase is purportedly planning to sell stock on Nasdaq’s private market ahead of the initial public offering (IPO). Coinbase reportedly notified shareholders that they would receive information pertaining to the private sale this week. The crypto exchange is the biggest digital currency exchange in the United States and one of the world’s largest crypto trading platforms. As far as other digital assets under management, the crypto exchange recently noted it holds $90 billion AUM in cryptocurrencies.
Coinbase announced a confidential filing of an S-1 IPO with the SEC.
In December last year, Coinbase announced the confidential filing of an S-1 initial public offering with the U.S. Securities and Exchange Commission. On Friday, it was reported that Coinbase would sell shares privately ahead of the IPO. “On Monday, January 25 at noon PT, you will receive an email from the Nasdaq Private Market with details, including how you can access the market, what shares are eligible for trading, and how the market will function,” a message allegedly sent to Coinbase shareholders read.
Coinbase has reportedly approached Goldman Sachs to lead its IPO.
The crypto exchange giant Coinbase has reportedly approached banking giant Goldman Sachs to lead its upcoming initial public offering — a move that could bolster the appeal of cryptocurrencies to a broader mainstream audience. Citing two sources familiar with the matter, Business Insider had reported that the crypto exchange is looking to Goldman Sachs to handle its public filing. Coinbase, for years, has been linked to American financial giant Goldman Sachs through Fred Ehrsam, the exchange’s co-founder who previously worked at the bank as a trader.