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    Home » Crypto News » Coinbase Reportedly Hires Goldman Sachs To Lead IPO Preparations

    Coinbase Reportedly Hires Goldman Sachs To Lead IPO Preparations

    Author: Jordan Lyanchev

    Last Updated Dec 19, 2020 @ 10:52

    US-based crypto exchange Coinbase has hired Goldman Sachs Group Inc to lead preparations for the upcoming Initial Public Offering.

    The digital asset trading venue has reportedly doubled-down on its endeavors for its planned stock market listing. The US multinational investment bank Goldman Sachs, which has a somewhat controversial history with the cryptocurrency industry, will lead the preparations. 

    • CryptoPotato reported recently that the exchange had confidentially submitted a draft registration statement with the US Securities and Exchange Commission (SEC). By completing Form S-1, Coinbase completed the initial registration form for new securities required by the Commission for public companies that are US-based.
    • Citing “a person familiar with the matter,” a Reuters coverage informed that Coinbase had hired Goldman Sachs Group Inc to lead the preparations for the IPO. It’s worth noting, however, that the exchange has failed to either confirm or deny this information.
    • By exploring various Coinbase business segments, including fees, cards, trading volumes, number of registered clients, and more, Messari estimated that the potential valuation of the IPO could be $28 billion.
    • Goldman has a somewhat controversial history with the crypto field. The New York City-based giant has led investment rounds worth $135 million between 2013 and 2016 for the peer-to-peer payments technology company – Circle. 
    • By collaborating with Citigroup, Goldman employed blockchain technology to execute an equity swap. Additionally, Goldman’s new head of the digital asset department hinted that the bank could explore launching a stablecoin.
    • On the other hand, the banking giant has openly criticized bitcoin and other digital assets by saying they are “not an asset class.” More recently, though, Goldman compared BTC to gold and noted that both could coexist as hedge instruments. 

    Featured Image Courtesy of Fortune

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    Tags: Banks Bitcoin Coinbase United States
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    About The Author

    Jordan Lyanchev
    More posts by this author

    Jordan got into crypto in 2016 by trading and investing. He began writing about blockchain technology in 2017. He has managed numerous crypto-related projects and is passionate about all things blockchain. Contact Jordan: LinkedIn

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