Leading cryptocurrency exchange Coinbase Global said it intends to become a publicly traded company pursuant to a proposed direct listing of its Class A common stock.
- On Dec. 17, 2020, Coinbase announced it had confidentially submitted a draft registration statement on Form S-1 with the U.S. Securities and Exchange Commission.
- The S-1 is not yet publicly available. The firm's announcement Thursday included no details as to when the stock would be listed or under which ticker.
- Coinbase recently announced it had $90 billion in assets on platform at the close of 2020 and 43 million registered users.
- By comparison, there are roughly 13 million users on Robinhood, the fintech app embroiled in controversy after abruptly halting trading of GameStop (GME) and other meme stocks.