Coinbase to go public on April 14

Coinbase to go public on April 14

Leading U.S-based cryptocurrency exchange Coinbase has finally set a precise date when it will go public. After delaying its direct listing from March to April, the exchange will be going public on April 14, 2021.

Coinbase confirmed the listing in a blog post on Thursday, revealing that the direct listing of its Class A common stock would be available on Nasdaq Global Select Market. According to the post, trading would resume on April 14, under the “COIN” ticker.

Before the announcement, Coinbase was targeting March to go public. However, the crypto exchange got approval for a direct listing from the U.S. Securities and Exchange Commission only yesterday.

Recall that a few weeks ago the exchange was slammed with a fine for illegal wash trading practices in the past three years. Coinbase agreed to pay a $6.5 million fine to the Commodity Futures Trading Commission (CFTC).

While some individual may have their reservations about Coinbase going public, the move is another win for the crypto space. Following the approval from the SEC, Coinbase could become the first crypto exchange to be listed on Nasdaq.

In closing, Coinbase left a caveat, stating:

This announcement does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Coinbase might be trying to play it safe seeing that the SEC has been going after crypto companies that it considers to have sold illegal securities.

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