Bitcoin Exchange Coinbase Files for Initial Public Offering
Coinbase Global Inc., the largest U.S.-based cryptocurrency exchange, said it has filed with the Securities and Exchange Commission for an initial public offering, the first major bitcoin-focused company to test the public markets.
The company disclosed the news in a blog post Thursday afternoon.
The filing positions San Francisco-based Coinbase to be one of the first big IPOs of 2021, in what is expected to be another big year for companies going public.
There are a smattering of small crypto-based companies that trade publicly in the U.S. and overseas, but none the size of Coinbase, which was most recently valued at around $8 billion. It is the largest U.S.-based cryptocurrency exchange by trading volume and one of the largest crypto exchanges in the world.
Coinbase’s IPO filing comes just a day after bitcoin topped $20,000 for the first time in its 12-year history. The digital currency’s value has nearly tripled in 2020.
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