After months of speculation, Coinbase has finally set a date for one of the most anticipated events in the cryptocurrency ecosystem: its direct listing and the disclosure of financial results for the first quarter of 2021.
On April 1st of 2021. the Securities and Exchange Commission (SEC) declared effective Coinbase’s registration statement on Form S-1, enabling the cryptocurrency exchange to start trading of its Class A common stock on Nasdaq Global Select Market under the ticker “COIN”.
While the reference price is still to be announced and as such, investors will need to wait for it to be disclosed on April 13 according to Bloomberg, the exchange will be making its financial results for Q1 of 2021 public 8 days before the start of the direct listing, allowing potential investors to use it as a guide.
As 2021 has seen one of the biggest bull runs in the history of the crypto market, it is expected that the financial results will reflect the increasing popularity of the platform over the last few months, which is expected to be one of its best quarters.
While it has initially believed that Coinbase would be going public through an Initial Public Offering (IPO), as more information came to light it became clear it would be making use of a Direct Listing approach instead.
How Much is Coinbase Worth?
There has been much speculation on how much Coinbase is valued, with some experts valuing it somewhere between $90 and $104 billion as the result of analyzing part of the private share transactions that were taking place back in February.
On March 17th, Coinbase shared that the average price of private transactions was $343.58, valuing the company around $68 billion, significantly higher than its value in the last fundraiser in 2018 which saw it valued at $8 billion.
The information disclosed with the Financial Reports for Q1 of this year is sure to have an impact on the initial price of the shares, probably increasing it due to the success of the crypto market ever…