The San Francisco-based cryptocurrency exchange Coinbase recently announced the company plans to do a direct listing, as opposed to following the initial public offering (IPO) route. The decision means that Coinbase can float its shares on an exchange without hiring a financial institution to underwrite the settlements. Coinbase to Skip IPO Process, Shoots for a Direct Listing Just recently people familiar with the matter received a tip that the exchange giant Coinbase had plans to sell shares privately ahead of the IPO. In mid-December, Coinbase revealed the confidential filing of an S-1 initial public offering with the U.S. Securities and Exchange Commission. However, on January 28, 2021, Coinbase announced a proposed direct listing as opposed to the IPO that was initially planned. For instance, a few weeks prior rumors spread that Goldman Sachs would be the exchange’s underwriter. On Thursday Coinbase wrote: Coinbase Global, Inc. today announced its intent to become a publ
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