Monday, March 8, 2021

Coinbase announces to launch a secondary market for its private stock.

The Takeaway:

Coinbase has alerted shareholders that the firm would launch a secondary market for its private stock on Nasdaq Private Market.

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One of the leading crypto exchanges in the US, Coinbase, has alerted shareholders that the firm would launch a secondary market for its private stock on Nasdaq Private Market. The move comes ahead of the firm’s much-anticipated public market debut. Coinbase, which filed a confidential S-1 with the US SEC in December last year, said that it would provide further details to shareholders on Monday about the secondary market launch. Coinbase would be the first US crypto exchange to go public. 

 

The move will allow current and former employees with vested equity in the firm to sell shares. 

“On Monday, January 25 at noon PT you will receive an email from the Nasdaq Private Market with details, including how you can access the market, what shares are eligible for trading, and how the market will function,” the message from Coinbase stated. The move will likely allow current and former employees with vested equity in the firm to sell shares. Nasdaq Private Market offers services for companies ahead of an IPO, including “controlled liquidity programs for pre-IPO companies looking to raise secondary capital for shareholders and investors.” Coinbase recently delisted XRP from its platform. 

 

Coinbase has reportedly approached Goldman Sachs to lead its IPO. 

The crypto exchange giant Coinbase has reportedly approached Goldman Sachs to lead its upcoming initial public offering — a move that could bolster the appeal of cryptocurrencies to a broader mainstream audience. For years, the US crypto exchange has been linked to American financial giant Goldman Sachs through Fred Ehrsam, the exchange’s co-founder who previously worked at the bank as a trader. Business Insider earlier reported that Ehrsam worked at Goldman between 2010 and 2012 before quitting to co-found Coinbase with current CEO Brian Armstrong.

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Disclaimer: The article reflects the opinions of the author and is not representative of Chaintimes’ views.
The article does not offer any investment advice. User discretion is advised when investing in or trading with cryptocurrency. Extensive and diligent research should be carried out by the reader before making a decision.

Jai Pratap
Jai Pratap
A Mass Media Graduate who loves to write. Jai is also a sports enthusiast and a big movie buff. He loves to learn new things.

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