Coinbase is all set to launch its class A common stock on the stock market. This is huge milestone in the cryptocurrency space.
Coinbase announced today that it has filed a registration with the United States Securities and Exchange Commission for a public direct listing of its stock. This will be a class A common stock.
This stock has been proposed to list on Nasdaq Global Select Market. The ticker for this stock will be COIN. This is a great milestone for the whole crypto community. Getting a cryptocurrency exchange stock listed on NASDAQ just shows the growing acceptance of crypto currency as an asset class. This news is extremely bullish and will be a beginning of the listing stocks of various other cryptocurrency exchanges across the global markets.
A registration statement has been filed with the SEC but has not yet been accepted and made effective. SEC can reject this proposal and these securities may not be sold. Coinbase has mentioned explicitly that “This announcement does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.”
Once this gets approved, we will see a ripple effect across the whole crypto market.
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