The ball is now in the SEC’s court. The latter must vote on the IPO of Coinbase. Goldman Sachs would be in the driver’s seat to lead this IPO. The players in the crypto industry are on fire and have high hopes for the success of the latter.
Goldman Sachs runs Coinbase
December 17, 2020, Coinbase files an S-1 form with the DRY for an IPO.
While waiting for the approval of the DRY, rumors indicate that Coinbase would have chosen Goldman Sachs to lead this IPO.
The columnist of Business Insider, Meghan Morris, would have obtained confirmation from 2 sources. The exchange based at San Francisco has yet to confirm this choice.
An analysis performed by Messari indicates that this IPO could lead the company to be valued at $ 28 billion, up from $ 8 billion in 2018.
Coinbase recently made changes to its board of directors which now includes the former CFO of Cisco, Kelly krammer, a former head of Google, Gokul Rajaram, and the venture capitalist, Marc Andreessen.
The thousand and one hopes around an IPO
Many players in the crypto industry rejoiced at the announcement of this IPO. The CEO of Digital Currency Group, Barry silbert, had tweeted that this IPO could significantly increase the purchase price of a large number of crypto companies.
For its part, the CEO of FTX, Sam Bankman-Fried, indicated that his platform plans to launch derivatives on this IPO, if Coinbase obtains the approval of the DRY. Otherwise, the launch of these derivative products will not take place.
FTX had already created a pre-IPO derivatives market for Airbnb and derivatives for the US presidential elections.
Will all crypto-exchanges be doomed to follow the model of traditional financial market players? Compliance with AML standards, KYC procedures, IPO to better regulate the value of governance tokens, etc. : the list is long and the engines of new finance may have to backtrack to “step back to better jump”. Is Goldman Sachs Really Running Coinbase IPO? The crucial question is mainly whether the SEC will give the green light for the latter to enter the stock markets. Traditional finance serving the news: A big green candlestick in sight for Bitcoin (BTC) and altcoins listed on the exchange?
Litecoin, welcome in the Silver Age