on the crypto
"The most obvious path for Coinbase is to go public at some point," said Asiff Hirji, president and COO of the company, in his first television interview since taking on the role on December 1st. He added that a public offering is "certainly in the interest of our investors".
The plan for an Initial Public Offering
On October 26, Coinbase confirmed that it was raising an Initial Public Offering of $ 500 million with a valuation of $ 8 billion. The news, which aroused a lot of interest in the last 24 hours, was finally confirmed by Ran NeuNer, who explained the financial breakdown of the IPO and provided further information on Coinbase's new move. The IPO will take place in two rounds, the first consisting of preferred stock and the second of common stock. According to sources close to Coinbase, the IPO should beat all market forecasts.
There are many differences between preferred stock and common stock and, certainly, the choice of Coinbase for its IPO has been well calculated. Many investors are familiar with common stocks and little with preferred stocks.
Both types of shares, however, represent a part of a company's ownership and both are tools that investors can use to try to profit from the company's future successes.
Coinbase doesn't stop
From now on, Coinbase, the largest exchange of bitcoins and other cryptocurrencies in terms of users, has 25 million registered users in its ranks. There are nearly 600.000 traders active on the platform every single day and a total capital of around $ 7 million in cryptocurrencies. Sources also said that Coinbase is available in over 32 countries, with a share that covers 75% of the total market.
Draper: "Coinbase will be one of the top ten companies to reach the trillion dollar valuation"
According to data that has surfaced in recent days, the California-based cryptocurrency exchange posted revenue of $ 90 million in the last quarter, with the prospect of earning $ 450 million in the last quarter of 2018.
80% of the revenue came from consumers, 15% from institutional accounts and the other 5% source was not disclosed. Adam Draper, one of the first and most influential investors in Coinbase, who bet $ 10 million in Coinbase's latest IPO, says Coinbase CEO Brian Armstrong can make Coinbase the largest company on the planet.
Draper also claimed that he had received a request to exit the market right now, to which he replied that he would prefer to stay and invest more. He added, "I honestly believe Coinbase will be one of the top ten companies to hit the trillion-dollar valuation."
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