Coinbase is one of the most popular crypto exchanges in the world with its ease of use.

The platform customers are growing because of the Bull crypto market. With revenue of over $1.2 billion and profit of $322 million the crypto giant is on its way to become a public company.

Yesterday Coinbase filed a S-1 application for SEC and showed for the very first time its financial results. S-1 is a form used by companies planning to become public. By this way the SEC can regulate and confirm that the company’s shares are financially stable. 

 

passive income investments strategy

 

 

 

Coibase was launched in 2012. Firstly the company allowed the customers to buy and sell Bitcoin and after a while added many other altcoins. The aim of Coinbase is to make it easy for everybody to operate with crypto assets.

The company first disclosed its intent to go public in December. Recently Coinbase was valued at $100B. This could be the main reason for the Binance token to become number 3 the most valuable coin. 

For 2020 the profit is $332M, compared to 2019’s loss of $30M Coinbase’s revenue jumped 140%. The jump is not surprising – the price of one Bitcoin rose from $10 000 to $30 000 and is currently trading around $50 000 pre pirce. 

The company is one of the most hotly anticipated public offerings of 2021. The shares will be listed directly – without Wall Street banks setting the opening price. Until recently, companies that chose to list directly could not float new shares, only sell existing ones. But a December order by the SEC changed that rule – the companies can issue new shares in order to  increase the potential amount of money they can raise.

Author – Militsa Dimitrova

Join our Telegram Channel? Click Here

What's your reaction?
Happy1
Lol0
Wow0
Wtf0
Sad0
Angry0
Rip0
Leave a Comment