San-Francisco based crypto currency exchange Coinbase Global Inc has filed a confidential prospectus for a stock listing with the United States Securities and Exchange Commission (SEC), the company said in a blog post. If approved, Coinbase will be the first listed crypto currency exchange in the world while several crypto-firms have been trading publicly since last year. Founded in 2012, Coinbase is the second largest crypto exchange in the world with more than 35 million users in over 100 countries. It processes over $2.8 billion in crypto trades on a daily basis, according to CoinGecko. Since the prospectus is confidential at present, details on the issue size, the company's revenues and operations are in the dark. Since the firm has filed an S-1 form with the SEC, the contents of the document will not be available until three prior to the investor roadshow. It is unclear whether Coinbase will opt for an initial public offering or a direct listing on stock exchanges."The Form S-1 is expected to become effective after the SEC completes its review process, subject to market and other conditions," the company said in its blogpost. In 2018, the company was valued at $8 billion raising funds from Tiger Global, Andreessen Horowitz, DFJ Growth and IVP to name a few. In August, the company shuffled its board to include venture capitalist Marc Andreessen and Google veteran, Gokul Rajaram ahead of its SEC filing. Last week, it added Kelly Kramer to its board of directors, who is a veteran…
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