Coinbase will IPO in 2021, already valued at 60B in pre IPO markets

by toplelkekfag

Coinbase will go public in 2021. Expected for Q1.

“Coinbase was valued at more than $8 billion in 2018 after a $300 million funding round led by Tiger Global Management. The company, started in 2012, has raised more than $500 million from backers that also include Andreessen Horowitz, Y Combinator and Greylock Partners, according to its website. Coinbase said it has has more than 35 million verified users in more than 100 countries and more than $25 billion in assets on its platform.”

If you are a little bit tech-savvy you can already get in through so-called preipo contracts see: np.reddit.com/r/CryptoCurrency/comments/khx0rj/get_ik_before_wall_street_the_coinbase_pre_ipo/

Coinbase is the goto exchange for cryptocurrencies in the USA. They are selling shovels during the goldrush.

That said 60B is an extreme value. Too much I would say. I still think it is a good play upto actual IPO day. Short term: long, long term: short. I expect this to be one of the biggest IPOs of 2021. Recently traditional media have been spending more and more attention to bitcoin and crypto, so their audiences are warmed up and afraid to miss out.

READ  Low Rates and Limited Liability Mean Hot Markets

EDIT: The Pre IPO is not open for US Citizens.

“CM-Equity is fully regulated in Germany, and is a licensed financial institution permitted to offer these products. All FTX users who trade tokenized stocks may also have to become customers of CM-Equity, and pass through CM-Equity’s KYC and compliance. Furthermore, all trading activity may be monitored for compliance by CM-Equity. CM-Equity custodies the equities at a third party brokerage firm. CM-Equity (not FTX Trading LTD) provides the brokerage services. In order to trade tokenized stocks on FTX, you must be at least KYC level 2. Once you are, you can go to your tokenized stocks KYC page to submit your information to CM-Equity. You must also not be a member of one of FTX’s restricted jurisdictions, including the United States; FTX collects KYC documents and IP addresses from its users. FTX does not operate in its restricted jurisdictions.”

The preipo contracts will convert to tokenized shares at the end of IPO day. The tokenized shares are backed 1 on 1 by the actual shares. If Coinbase for whatever reason does not go public before 21st of june 2022 (1.5 year from now) the contracts will be cash settled at 32 USD.

READ  Markets Care Less Who’s President: Biden Takes the Helm of Sinking Ship

 

Disclaimer: This information is only for educational purposes. Do not make any investment decisions based on the information in this article. Do you own due diligence or consult your financial professional before making any investment decision.

442 views