The upcoming direct listing of Coinbase is making many well-deserved headlines, but let’s take a look at a few of the longer term implications that could result from this first-of-its-kind event.
A potential valuation of nearly $100 billion, billions in revenue, highly profitable operations, and a fast-growing customer base that already numbers in the millions; what more could an organization ask for? The Q1 earnings of Coinbase reinforced the strong, and growing, financial position of the firm.
The recently filed S-1 of Coinbase has generated a virtual tidal wave of analysis and examination with regards to the current state of the crypto marketplace, the operations of the exchange itself, and how these operations can evolve moving forward.
It is reasonable to surmise that the timing of the direct listing is not accidental, and that the firm is seeking to capitalize on the renewed and growing interest from both individuals and institutions in cryptoassets. That said, it also interesting to note that Coinbase is not seeking to raise any new capital as a result of this listing, reinforcing the financial results and strength disclosed in the S-1 and Q1