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Bitcoin Businesses

Coinbase Settles On Direct Listing To Go Public (axios.com) 15

Posted by BeauHD from the time-to-go-mainstream dept.
In a blog post today, Coinbase announced that its public debut will be a direct listing instead of a traditional IPO. From the announcement: Coinbase Global, Inc. today announced its intent to become a publicly-traded company pursuant to a proposed direct listing of its Class A common stock. Such proposed listing is expected to be pursuant to a registration statement on Form S-1 with the Securities and Exchange Commission (the "SEC"). Coinbase Global, Inc. previously announced on December 17, 2020 that it had confidentially submitted a draft registration statement on Form S-1 with 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's public listing has been hotly anticipated as a potential tipping point for the cryptocurrency industry to go mainstream," reports Axios. "The direct listing route -- which allows existing shareholders to sell their stock into the market while the company doesn't raise new funds -- has been slowly gaining more traction with Palantir and Asana as the latest to go that direction."
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Coinbase Settles On Direct Listing To Go Public More

Coinbase Settles On Direct Listing To Go Public

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  • A few reasons to list directly (Score:4, Interesting)

    by Orange Man Bad ( 5608829 ) on Thursday January 28, 2021 @07:44PM (#61003662)

    1) your company is so hot you don't need big money help getting buyers on day one
    2) your company is such shit that not even big money will touch it
    3) either of the above AND insiders want a chance to sell into the market on day one instead of a big money 6 month imposed lock down because they're afraid it'll take a dive by the 6 month mark

    And of course subtle variations of the above but that's the basics. You can always add, "and fuck those big money leeches!" successfully to the end of any sentence to increase the truth value of any statement.

    "The sky is blue and fuck those big money leeches!". Yup. That works!

    • 1) your company is so hot you don't need big money help getting buyers on day one
      2) your company is such shit that not even big money will touch it
      3) either of the above AND insiders want a chance to sell into the market on day one instead of a big money 6 month imposed lock down because they're afraid it'll take a dive by the 6 month mark

      4) You don't want a full audit of your books to protect investors
      5) Your product is made of thin air so you don't need a cash injection to ramp up production capacity.

  • I'm already all in on Gamestop, and I'm gonna HODL till it hits the moon.

  • Only one digital asset matters: Bitcoin (Score:1)

    by Anonymous Coward
    Gold was the reference as money for thousand of years. Now, something better, scarcer, more secure and faster is available, you can't prevent something analog to be replaced by a better digital product: Bitcoin

    • Re: (Score:1)

      by ledow ( 319597 )

      And both suffer from a fatal flaw incompatible with modern legislation:

      They don't counter money-laundering.

      You may think "Well, nor does cash", but cash has restrictions on withdrawals, deposits, conversions, the threshold at which people have to account for where it came from, etc.

      Many banks will literally not send or receive money to a major cryptocurrency exchange because they are unable to identify the end-recipient and the exchange is either similarly unable or uncooperative. Under money laundering la

  • Anyone know why they're going this route instead of some sort of blockchain-based token thing? I mean, obviously because they want to make a fuckton of money selling shovels to gold diggers during the rush, but what is their PR reason?

    • but what is their PR reason?

      They just printed a million pieces of paper, assigned an arbitrary value to them, want to put them on sale.

      The only remaining obstacle is negotiating with the wall street mafia over the size of the bribe^Wcomission.

      Who needs a reason?

  • It opens new opportunities for people; I think that big companies and corporations must pay more attention to social issues and be more clear for everyone. It's a quite complicated question, which I try to understand writing my paper on that. To get more materials, I use a lot of different resources, e.g., https://samplius.com/free-essa... [samplius.com] and others. I guess that such free essay databases have a lot of useful and interesting info. In any case, every business must be clear for the country and people.

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