Coinbase is on its way for a direct listing on the Nasdaq exchange under ticker COIN. It has filed a S-1 registration statement that serves as an important hallmark before it goes public. It also provides a treasure trove to investors about Coinbases’s finances. 

Here are some notable quotes from the S-1:

“As of December 31, 2020, the total value of crypto assets on our platform represented 11.1% of the total market capitalization of crypto assets, increasing from 8.3%…[from 2019]”.

“We have grown quickly and in a capital-efficient manner since our founding. For the years ended December 31, 2020 and December 31, 2019, we generated total revenue of $1.3 billion and $533.7 million, respectively, net income (loss) of $322.3 million and $(30.4) million, respectively, and Adjusted EBITDA of $527.4 million and $24.3 million, respectively”

The centralized exchange helped cater to both Microstrategy and Tesla in buying...

One of the most popular centralized exchanges for crypto, Coinbase, has decided to do a direct listing on the Nasdaq rather than the New York Stock Exchange according to The Block. 

In the Nasdaq Private Market on January 25, Pre-IPO Coinbase shares sold for $200 which would value the firm at around $50.8 billion ($200*254 million shares outstanding). Online database and research agency, Messari had calculated that the firm was valued at $28 billion back in December when Coinbase first filed with the SEC. Futures contracts have Coinbase shares trading at $277 on FTX. All this to say, Coinbase stock is going to be hot. Stay tuned.