egg yolk what is going on with the ever-growing number of faithfuls who I call the Samurai army and of course any newbie aka a viewer of the tube I'm sure most of you know but if you don't my name is Dima the host of the crypto channel that knows if someone posted an Asian name on the Internet you need to read it in your head before saying it out loud hello soak my cock suck my cock hello welcome soothe my cock Wow welcome buddy and I'll never sign me before I mean how remember your nickname how are you doing today hello suck ha ha ha ha ha ha ha hilarious you know our PokerStars it's time for Samurai crypto well I'm sure you've heard about the big news for their crypto space something everyone is talking about or already has and saying how it's going to be such a big win for the crypto space you know what I'm talking about coin base is preparing to go public preparing to turn their company into shares a stomp whoopee why do I say it like that well doesn't it seem like we're kind of going backwards donks our stunts the old way crypto is crypto the new way the real way my question is this why not tokenize your offering you're the biggest in the space and a leader yet you're going to go the old route I wonder why they're going the old route well they have been talking about doing this going public for a while now all the way back in 2017 just after the peak when BTC was around 16 K let's listen in and realize it's all about money should we expect to point Mesa IPO anytime soon or for a big exchange to buy you guys would be a logical fit I yeah look we we so I can't comment on ma right but but I think I think we would be quite expensive for any any exchange to look at that being said it is certainly in the interests of our investors you know and no andreessen horowitz and others who've invested in us they they they they look to get a return and I think the most the most obvious path for coinbase is to go public at some point I think there's a lot for us to do between between now and then whenever that date is well that date is now and what exactly is coinbase doing well they aren't doing an IPO coin des had a nice summary breakdown what is known as it yesterday and they said rather than an initial public offering it said the firm would prefer to go down the route of a direct listing on an exchange so what is a direct listing what happens with it well we all know the traditional IPO the initial public offering but with a direct listing it's called a DPO or a direct public offering so what's the difference between the two well with an IPO new shares are created and you have intermediaries helping get those chairs out through underwriters who work closely with the firm throughout the entire IPO process in AD Pio the business in our case coin base sells shares directly to the public without the help of any intermediaries it does not involve any underwriters and there are no new shares issued and there is no lock-up period for the shares the existing investors promoters and even employees holding shares of the company can directly sell their shares to the public so which Stock Exchange where does coinbase gonna get direct listed on the new york stock exchange NY se or Nasdaq or a smaller exchange well I wouldn't doubt one of the big boys as both NASDAQ and the NYSC filed with SEC in November of last year laying the groundwork for them to start direct listings we have the filing from the NY SC and as we can see they were attempting to modify and initiate a rule change to direct listings and from the text to allow a company to sell shares on its own behalf in connection with its initial listing upon effectiveness of a registration statement without a traditional under written public offering the exchange proposes to admin section 102 point O 1b and then below we can see this the exchange does not propose to apply these requirements from 102.1 be in the case of a primary direct floor listing which the company sells at least 250 million in the opening auction on the first day of listing as a sale would ensure that there will be at least 250 million in public hands after the first trade and then further below the exchange believes at a primary direct floor listing in which a company sells at least 250 million of its stock and the opening auction on the day of listing would provide an appropriately liquid trading market and make highly likely that the company would meet the initial listing distribution standards quickly after initial listing which it sounds like coinbase would do just that over 250 million they would be a hot hot direct listing but unfortunately the SEC quickly rejected this one months later in December the Wall Street Journal covered it SEC reject NYSC plan to expand direct listing Oh bummer in the summer so it can't be the NY se all right wrong why do you think the NYS e-- submitted just two weeks ago another try edit reuters covered it in an article titled NYC makes new push with the sec or IPO alternative and it says in new york stock exchange submit an amended rule change with the US Securities and Exchange Commission on Monday in a bid to enable companies that debut on the stock market through a direct listing to raise capital now I'm telling you folks coinbase and this direct listing has been planned for some time the rule change they're attempting to push through is to allow coinbase to get listed it's not for other companies I will tell you that it's for one company and one company only coinbase because it's known who is invested in coinbase those who will list is from a 2015 Business Wire post the NYSC completes minority investment in coinbase and lookie who is listed as investor contact below cool Kelly Lafleur so when you see in the news of which Reuters coverage also in their own article exclusive crypto exchange coinbase Reddy's landmark stock market listing sources say and it clearly says this coinbase could pursue the listing later this year or early next year the sources said cautioning that the plants are still subject to change so it's really easy for me to tell that we should hear the SEC has approved the NYS es rule change and when will that news come out I would guess in about two weeks we will know that coinbase is getting listed there and it just makes sense as the owners of the NYS e-- are cool kelley Loffler and jeff Spreadshirt who are involved in the crypto space back to ring a bell and guess who is the newest president of vac that is adam white presenting and guess where he was an early exec at coinbase as their fifth employee so we need to understand what exactly is going on we know then why IC backed and coinbase are connected it's super obvious but what is the point of this well remember what they said in 2017 let us replay it that being said it is certainly in the interests of our investors you know andreessen horowitz and others who've invested in us they they they they look to get a return well it's to get a return for their investors like the one blatantly said andreessen horowitz a.k.a 16z why do you think these guys just two months ago were predicting and calling for the fourth cristobol cycle from coin dez posted on may 18th of this year in dreesen Horowitz forecasts fourth crypto bull cycle well if I knew one of my larger holdings in my portfolio coin base which is privately valued at eight billion dollars right now was about to get a first-of-its-kind direct listing on the New York Stock Exchange I would be calling for a bull run - so who are the ones that are going to be making fuku bucks off of this of course the owners of a 16 Z Chris Andreessen and Mark Horowitz but also some other characters there are two who are shared by both coin based and a 16 Z Chris Dixon who is current partner of a 16 Z and a board member of coin base and Katie who on current partner of a 16 Z and current board member of coin base which Chris is on the Forbes Vitus list for 2020 which ranks the best VC investors he made spot number 29 and Ford said Chris Dixon stays on the Midas list in 2020 do to coinbase the crypto marketplace valued at 8 billion after a 300 million fund raised in October 2018 what was the direct listing on the NY I see he is going to shoot way up that list and all the major shareholders of the company are going to be laughing to the bank from a 16 ZZZ employees to all coin bases employees to the New York Stock Exchange including Jeff and Kelly the rich get richer while Wall Street puts its grips around crypto even stronger this is scary to me as like I said in the beginning why are we going backwards why not tokenize so to finish this episode I want to play with Fred aresome co-founder and board member has recently set in May of this year when interviewed by coin desk about an IPO well speaking of why Nance's native token which you know is one of the biggest crypto assets out there do you think coin base will create something like that I mean seems from now us DC the stable coin is you know presents some opportunity for seniors and control over that space but will we see a cone based token Sam there definitely have been employees who have speculated around the idea I think the highest level way that we think about it is coinbase should constantly challenge itself to be as crypto native as possible and if we think that the future is all assets exist on a block and then why should coin based be any different so that it's definitely an idea that it's rattling around if how when that happens unclear if coinbase IPO is do you think it's going to involve a native token or I mean I think a lot of people would be disappointed if he just did a kind of conventional Nasdaq listing or can you shed any speculation on that that would be really boring wouldn't it again I would say spiritually and aspirationally we think that's the way the world is going and I would love to see coinbase do something in that van whether or not or if and when that happens I think it is harder to speculate on now let's just replay his answer when it's asked is coinbase going to IPO that would be really boring wouldn't it see how he laughs and then bites his lip it's because he knew it was coming just a regular old coinbase tongue not tokenized not for the ethos of crypto but there's a possibility it comes down the road he said and as we know here on the Samurai Channel all stocks will eventually be tokenized cheers viewers I'll see you next time
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