Posted 4 months ago | by @devadmin

The U.S.’s largest digital currency exchange Coinbase has announced its going public as renewed investor interest in cryptocurrencies has pushed Bitcoin to an all-time high.

“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 wrote in a blog post.

Digital currency exchange Coinbase is going public as renewed investor interest in cryptocurrencies has pushed Bitcoin to an all-time high. Coinbase wouldn’t be the first blockchain company to do an IPO, but it would be the biggest to date.

The draft registration for the IPO is still awaiting Security Exchange Commission review. However, Coinbase has been eyeing an IPO for awhile as it has grown in users and size since it was first launched in 2012. If the agency refuses to allow Coinbase to do its IPO, another option for the company would be to pursue a direct listing in which it sells its shares directly to the public.

It’s unknown how much Coinbase is evaluated at as a company. But the company’s last fundraising round in 2018 a series-e, provides us a slight insight that its valued near $8 billion. That estimation is form 2018 though, and since then the company has had massive growth in just those last 2 years, so it’s unlikely that Coinbase will seek that evaluation and instead will go for a much higher amount.

Bitcoin is currently trading at [FIAT: $23,000.08] UP +5.3% in the last 24 hours according to Coingecko at the time of this report.