🎧 Thriller Rundown - S4EP21: Coinbase IPO Worth Buying?

We discuss the latest news on Coinbase IPO and whether Car thinks its a solid buy.


Coinbase Direct Listing Reportedly Scheduled for April 14

Coinbase could debut on the Nasdaq on April 14, but the date is fluid, according to a report.

news coming from Bloomberg

Coinbase Global Inc., the largest U.S. cryptocurrency exchange, said it’s planning to make its trading debut on April 14 under the ticker, “COIN” The company’s registration statement for the listing has been declared effective by the U.S. Securities and Exchange Commission,

  • The direct listing on the Nasdaq Stock Market had earlier been pushed back from March.

  • As with other direct listings, a reference price to help guide investors and to allow the shares to begin trading will be disclosed the night before the company goes public.

  • Coinbase’s plans were undergoing a review by the SEC, if you remember the CFTC, announced on March 19 that it had reached a $6.5 million settlement with Coinbase, resolving claims the company had reported inaccurate data about transactions and that a former employee had engaged in improper trades.

  • Coinbase is planning to go public through a direct listing in which it will not raise any new capital. It was valued at about $90 billion in its final week of trading on Nasdaq’s private market.

A Repeat of November / December 2020 this month…yes still a slow month for Bitcoin.

chart coming from TradingShot via TradingView

Coinbase IPO: To Buy or Not to Buy?

Information via the Protocol

Coinbase had a stellar 2020. It recorded $1.1 billion in revenue for the year, up 136% from $483 million in revenue in 2019. This increase in revenue tracks closely with the 142% increase in trading volume between 2019 and 2020.

Coinbase derives almost all of its net revenue (96% in 2020) from transaction fees, which have been correlated with fluctuations in the value of cryptocurrencies. The rise in institutional trading volume has been a major source in revenue growth for Coinbase over the course of 2020. For instance, in Q1 2020, institutional trading volume rose to 6x the volume of Q1 2019. And even over the course of the year, institutional trading volume went from $18 billion in Q1 2020 to $57 billion in Q4 2020. Retail trading volume went from $12 billion to $32 billion in that same time frame.

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