Coinbase announces the sale of shares on the private market of the Nasdaq prior to its IPO 📈

By AtipikNews | Atipik | 26 Jan 2021

The Coinbase U.S. Cryptocurrency Exchange plans to sell shares on the private market of the Nasdaq prior to the Initial Public Offering (IPO).

According to a recent report, U.S. crypto giant Coinbase intends to sell shares on the private Nasdaq market before going public. Coinbase is reported to have informed shareholders that they would receive information about the private sale this week. The crypto exchange is the largest digital currency market in the United States and one of the largest crypto trading platforms in the world. With respect to other digital assets under management, the crypto exchange recently reported that it had $90 billion in assets under management in crypto.

Coinbase announced the confidential filing of an S-1 IPO with the SEC.

In December of last year, Coinbase announced the confidential filing of an S-1 initial public offering with the U.S. Securities and Exchange Commission. On Friday, it was announced that Coinbase would sell shares privately prior to the IPO. "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, which shares are eligible for trading, and how the market will work," reads a message allegedly sent to Coinbase shareholders.

Coinbase has reportedly approached Goldman Sachs to lead its IPO.

Cryptography giant Coinbase has reportedly approached banking giant Goldman Sachs to lead its IPO, an initiative that could make cryptocurrents more attractive to a wider audience. Citing two sources familiar with the subject, Business Insider reported that the crypto stock exchange is turning to Goldman Sachs to manage its public filing. Coinbase has been linked to US financial giant Goldman Sachs for years through Fred Ehrsam, the co-founder of the exchange, who previously worked at the bank as a trader.