Coinbase Delays Highly Anticipated Direct Listing to April: Report
Cryptocurrency exchange Coinbase’s highly anticipated public offering has been shifted to April after its plan for a March listing “slipped,” according to a Bloomberg report citing people familiar with the matter.
- No reason was given for the delay, but Bloomberg noted the U.S. Securities and Exchange Commission (SEC) has been reviewing the San Francisco-based exchange's plan for a direct listing.
- Coinbase formally announced in January its plans to go public on the Nasdaq and this past week registered for as many as 114.9 million shares to be traded.
- Coinbase Class A shares will make their debut on the Nasdaq Global Select Market under the ticker "COIN."
- CoinDesk reached out to Coinbase but did not receive a response by press time.
- On Friday, it was announced Coinbase will pay $6.5 million in a settlement with the Commodity Futures Trading Commission (CFTC) over allegations the exchange “self-traded” digital assets between 2015 and 2018.
DISCLOSURE
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
