Crypto exchange Coinbase readies landmark stock market listing, say sources | Malay Mail

Thursday, 09 Jul 2020 10:40 PM MYT

SAN FRANCISCO, July 9 — Coinbase Inc has started plans for a stock market listing that could come as early as this year, making it the first major US cryptocurrency exchange to go public, according to three people familiar with the matter. Coinbase could pursue the listing later this year or early next year, the sources said, cautioning that the plans are still subject to change. The company has not yet registered its intention to go public with the SEC, but has been in talks to hire investment banks and law firms, the sources added.A Coinbase spokesman said the company does not comment on rumors or speculation. The SEC declined to comment.

In a direct listing, a company does not sell new shares as it does in an IPO and existing investors are not bound by lock-up restrictions on when they can divest their holdings following the market debut.

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