World’s most valuable Crypto exchange, Coinbase files for IPO

Coinbase the world’s most valuable and largest American cryptocurrency exchange, on Thursday, has issued a statement regarding the filing of its initial public offer (IPO) with the Securities and Exchange Commission, the first by any major crypto company in going public.

In a press release issued by the company, it gave insights to the draft filed to the American regulators by saying;

• Coinbase Global, Inc. today announced that it has confidentially submitted a draft registration statement on Form S-1 with the Securities and Exchange Commission (the “SEC”). The Form S-1 is expected to become effective after the SEC completes its review process, subject to market and other conditions.
• This announcement does not constitute an offer to sell or the solicitation of an offer to buy any securities. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”).
• This announcement is being issued in accordance with Rule 135 under the Securities Act.

Coinbase remains by far the most valuable crypto exchange in the world which was most recently valued at around $8 billion. It is the largest American-based cryptocurrency exchange by trading volume and leading crypto brand respected by many institutional investors.

Coinbase’s IPO filing comes at a time Bitcoin, the world’s flagship crypto gained past $20,000 on Wednesday night, crossing the $21,000 and $22,000 hurdles in the hours afterward, and reaching the historic $23,000 mark on Thursday