After months of speculation, Coinbase has finally set a date for one of the most anticipated events in the cryptocurrency world. The exchange's direct listing and disclosure of financial results for the first quarter of 2021. Coinbase goes public On April 1, 2021. The Securities and Exchange Commission (SEC) approved Coinbase's registration statement on Form S-1, thereby allowing the platform to begin trading Class A common stock on Nasdaq under the symbol "COIN." The reference price has not yet been announced. According to Bloomberg, investors will have to wait until April 13 for its disclosure. That's when the exchange will make public its financial results for the first quarter of 2021. The results will come 8 days before the direct listing begins. This may give some clues to potential investors. In 2021, we experienced one of the biggest bull markets in the history of the cryptocurrency market. This has created huge expectations in people. The financial results are expected to reflect the growing popularity of the platform over the last quarter - which incidentally was the best quarter in its history. How much is Coinbase worth? There has already been speculation about how much the exchange is worth. Some experts valued the company at between $90 billion and $104 billion. Their predictions were based on an analysis of some of the private stock transactions that took place in February. On March 17, Coinbase shared the news that the average price of private transactions was $343.58. This ultimately valued the company at $68 billion. This amount far exceeds its last established value. In 2018, Coinbase was worth just $8 billion. The information revealed with the financial reports for Q1 of this year will certainly affect the initial price of the stock. They will likely affect it positively. The cryptocurrency market has grown rapidly in size since December 2020, and Coinbase's position in it is firmly established. Coinbase released its latest financial report as part of its S-1 regulatory filing with the SEC. In it, the company reported a total 2020 profit of $322 million. A milestone for cryptocurrencies Coinbase's debut on Nasdaq will make it the first major cryptocurrency exchange to enter Wall Street. After years of widespread skepticism, a company that is open to digital investment will appear on Nasdaq. The use of direct listing will allow interested parties to purchase Coinbase shares. The offering will be limited by employees and investors who already own shares. This will prevent whales from acquiring them immediately after the listing. Tags Bloomberg coin coinbase exchange cryptocurrency exchange SEC
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