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Coinbase and the coming IPO 

What about Coinbase? News talks about an initial paper offer from Coinbase, which is interesting because it should have raised an initial coin offering. The difference is many people do not understand coinbase. It is not a typical company in crypto business. Coinbase started to bring FinTec into the community of Bitcoin enthusiast. You can be sure it is not that easy to address bitcoin holder to trust a third party not yet in the US where a bitlicense is needed for your business to take the private keys out of your hands.

Coinbase was seeking the regulators advice from the very beginning knowing it would be a normal business company serving financial instruments, tradings and pairing as the “old economy is doing and building a bridge. With his services it raised 1.2 billion US$ and a profit about $322 Million. 

Coinbase is one of the largest exchanges and acquired a lot of businesses in this space. The Suisse exchange Xapo one of the first exchanges in the European area has been overtaken by Coinbase and until 2018 Coinbase and Xapo hold nearly 1/3 of all Bitcoins circulating. 

Coinbase because of its strong US settlement is one of the fastest growing exchanges and announced they have an increase on new customers of 50,000 users each month on the run times of Bitcoin. It was founded in 2012 and has an employees based of 1,123 in 2019. Estimated 20,000,000 Users are today registered on Coinbase.

Coinbase has two core products: a Global Digital Asset Exchange (GDAX) for trading a variety of digital assets on its professional asset trading platform, and a user-facing retail broker of Bitcoin, Bitcoin Cash, Ether, Ethereum Classic, and Litecoin for fiat currency. It also offers an API for developers and merchants to build applications and accept payments in both digital currencies. As of 2018, the company offered buy/sell trading functionality in 32 countries,[51] while the cryptocurrency wallet was available in 190 countries worldwide. On March 26, 2018, Coinbase announced their intention to add support for ERC-20tokens. 


Newly launched Coinbase futures reported over $2.2 million in traded volume last check,barely 12 hours after the market opened, making it the largest tokenized stock market on FTX by a significant margin.

  • The next largest tokenized stock market on FTX – Moderna (MRNA) – reports barely $800,000 in volume.
  • CoinDesk first reported that FTX had plans to launch Coinbase futures, pending non-U.S. regulatory approval. The maverick exchange also launched a pre-IPO market for Airbnb futures earlier this month.
  • Coinbase futures have retraced some of their initial gains, dropping to $235 at last check, up roughly 95% from the initial listing price.
  • Based on current trading, FTX’s pre-IPO futures assign Coinbase a rough market capitalization of over $58 billion, more than double the $28 billion value estimated by Messari in a Friday report.

It’s likely to see that Coinbase will become a banking license sooner or later a fully banking license for crypto banking since the competitor Kraken is undergoing an investment round where 20 Billion Dollar are estimated. The high price of Bitcoin needs more coverage in fiat. This leads into a suggestion Coinbase IPO could raise soon after opening to a 100 Dollar Billion bet. 

This will become a rocketeer on the crypto market. 

In sum we can say the crypto market will be undergoing a completely change as we know today. Yes there are ETF out there. The game just started and a roller coaster its on his way, but the fittest survive and Coinbase is definitely one of them. 

 

Written by : Prof. (Dr.) h. c. Joerg Molt

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Crypto Stats


CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin55,343 0.28 % 0.18 % 12.95 %
Ethereum2,300.6 0.72 % 7.20 % 0.16 %
Binance Coin587.40 1.01 % 16.64 % 6.20 %
Tether0.9969 0.28 % 0.80 % 0.43 %
Polkadot43.88 0.58 % 0.43 % 36.39 %
Cardano1.250 0.71 % 4.52 % 12.18 %
XRP1.420 1.34 % 9.22 % 20.43 %
Uniswap31.78 0.47 % 5.41 % 10.47 %
Litecoin259.78 0.46 % 2.43 % 2.44 %
Chainlink37.96 0.99 % 4.44 % 6.46 %