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Coinbase submits IPO filing to go public, approved by the U.S. Securities and Exchange Commission (SEC) for public offering.

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Coinbase submits IPO filing to go public, approved by the U.S. Securities and Exchange Commission (SEC) for public offering.

One of the world's largest exchanges, Coinbase, was rumored in July this year to be planning its initial public offering (IPO) by the end of the year, making its debut on the US stock market. Today, Coinbase officially announced that it has submitted the S-1 form to the US Securities and Exchange Commission (SEC) and will proceed with the IPO once the review is completed.

Due to restrictions on the promotion of unregistered securities under US securities laws, Coinbase's language in the announcement remains conservative, emphasizing that these announcements do not constitute an offer to sell or a solicitation of an offer to buy securities.

In July of this year, three sources familiar with the matter revealed to Reuters that the US cryptocurrency exchange Coinbase is preparing for a stock market listing, with plans to submit an IPO application to the SEC by the end of this year at the earliest. According to sources, Coinbase was valued at over $8 billion in a private funding round in 2018, with initial plans to go public through a direct listing rather than an IPO.

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If approved by the SEC, this would not only mean that Coinbase will become the first publicly traded cryptocurrency exchange but also a significant milestone for the mainstream adoption of cryptocurrencies.

Furthermore, the exchange FTX, which is expected to launch pre-IPO products, may also seize this opportunity.

Bull Market Surge, Coinbase Advises Against FOMO

As Bitcoin hits an all-time high and continues its upward momentum, Coinbase stands out as one of the few exchanges advising people to invest rationally during this time. On the 17th, founder Brian Armstrong announced:

"We are seeing a surge in the market similar to what we witnessed in 2017, occasional bull markets that see prices rise rapidly. While we are excited about the profits in the cryptocurrency space, we must also point out that this is not just a period of high trading volume, but also high price volatility."

He mentioned that Coinbase believes in the transformative innovation of cryptocurrencies and is optimistic about the long-term market. However, they acknowledge that they cannot perfectly advocate for the risks of cryptocurrency investments, as the volatility is much higher compared to other traditional financial instruments. Therefore, they strive to provide various trading tools to adapt to market conditions and caution investors to do their due diligence on investment risks and consult with financial advisors.

Named in the 2020 Blockchain 50 Companies

In the 2020 Blockchain 50 Companies list released by the renowned consulting firm CB Insights, Coinbase is categorized under cryptocurrency exchanges. It is listed among the five unicorn companies, along with Bitmain and Bitfury from the mining chip and software industry, blockchain analytics company Chainalysis, and the blockchain-related business group Digital Currency Group, all of which have gone through a funding round or have a valuation exceeding $1 billion.