Coinbase has filled for going public

[cryptomaniac_xxx]

Any ideas if some crypto exchanges will follow Coinbase? Or some exchanges may become bullish about this? We all know that some crypto exchanges these days got their own tokens, which have different uses or benefits if you hold them within their respective platform.
And addition to the Coinbase filing, could be a disaster for Bitcoin or the whole crypto sphere once Coinbase will be rejected?

Not that I'm aware of, Coinbase is testing new ground here and if it is successful then maybe others will follow as well. Of course, the timing is right, we are in a bullish phase and this could really be great for Coinbase and the ecosystem as a whole. I doubt though that it will have a negative impact to crypto sphere if ever this will be rejected. Again, it boils down to the timing of the filing of Coinbase.

[1714869701]

1714869701

[paxmao]

Moreover I see this as an indirect crypto investment.

I don't any more than I see buying Amazon stock as indirectly investing in Nike (or anything they sell).

It is indeed interesting news, however--and I'm taking OP at his word that it's true since I haven't verified it.  I don't think there are any other publicly-traded exchanges of any type, or at least I can't think of any.  As far as whether their stock is worth investing in, it depends on how profitable they are.  I've never seen any reports about that (not surprising since they never had to file any such reports), but I bet they make a pretty decent chunk of change unless they somehow have a lot of overhead.  

This will definitely be a stock that I'll put on my watch list once they finally get listed.  Betcha there'll be a ton of buying on IPO day.

What's interesting is that
a) They are not conducting a IPO<snip>

No?  I thought when you get listed on a stock exchange, the initial stock sold to the public is the IPO.

I read it in a couple of outlets.

I think that, strategically, Coinbase is making a move towards a) assuring the big investment firms that they are a serious and fully compliant company and b) protecting themselves, in the sense that it is much more difficult to ban or act against a company once some large investors have a stake on it.

In terms of profitability, Coinbase business revenue is based on fees for trading, thus they intend to catch the tailwinds of a progressive increase in criptocurrency trading during the next few years. People should understand this if they intend to invest: You are NOT buying a bitcoin derivative, but a derivate of the volume of bitcoin (and other) trading.

Now that I think about it, it could even be a hedge against a unlikely takeover of bitcoin´s dominance by some other crypto asset.

They have effective filled to conduct their IPO, date to be set.

[bitgolden]

Any ideas if some crypto exchanges will follow Coinbase? Or some exchanges may become bullish about this? We all know that some crypto exchanges these days got their own tokens, which have different uses or benefits if you hold them within their respective platform.
And addition to the Coinbase filing, could be a disaster for Bitcoin or the whole crypto sphere once Coinbase will be rejected?

Not that I'm aware of, Coinbase is testing new ground here and if it is successful then maybe others will follow as well. Of course, the timing is right, we are in a bullish phase and this could really be great for Coinbase and the ecosystem as a whole. I doubt though that it will have a negative impact to crypto sphere if ever this will be rejected. Again, it boils down to the timing of the filing of Coinbase.

I believe it is not going to be "that" difficult, after all if they can do this and there is no problem with SEC that means others can follow very easily. Of course this is for USA and other american companies can follow but exchanges from other nations can't follow that since they are not in USA.

However I feel like this could basically be a way for Binance to ditch every other place and come to USA and slowly change everything they have to USA thing and go public because I believe they are 10x bigger than coinbase and that means they could make tens of billions of dollars from this and that would be awesome for CZ as well. Not that they need money but who could say no to even more money.

[dothebeats]

To be fair, they have been planning to go public for over a year now, and we all know that Coinbase's best interest isn't really for the whole of the community but rather for themselves. They are a platform that does strict business, nothing more. Also, doing this right now pleases most of the regulators, especially that Biden's administration is full of pro-regulation for bitcoin, and some of the lot are against it. Coinbase are intentionally letting themselves be regulated in order to gain more support, more money inflow from investors and more profits on their side. This, IMO, is not a move that benefits the community in a large way, but a move that does move legitimacy closer to crypto exchanges somewhat.

[batang_bitcoin]

Being them going public, they should also upgrade the customer service and experience that many have been complaining about.

Indeed, as they wanted to gain credibility. Then most probably, solve first the problems facing users with their system and services. While these public trading file action will still benefit the company and will get the interest of some investors, they should also face the deep responsbility and possible risks of filing it in NASDAQ. But then again they are confidently ready then, this could be a major move for coinbase.

Hopefully this direct listing make a good outcome as theyve jumped to use traditional IPO and will got this huge step further.

I hope that it will come eventually as they need to have a good reputation and feed back from the people. Such complaints that will be voiced out won't really make them fall or such but it's a concern for most of their users that we've been seeing. They got bigger volume this time and it's a challenge for them to provide the best quality customer service that everyone deserves. But as said, they have to put that into their to-do list if they want to be more credible.

[pugman]

Very fucking interesting. Wonder what they have rolled up in their sleeves following this IPO. Coinbase is going to ridiculed by regulations more than ever, yet it is somehow more reliable to the common John Doe. I hate that Coinbase is the one that the general public loves, but as a crypto-enthusiast of sorts myself: we can do better than Coinbase.

My never-ending disappointment towards exchanges never seem to end; maybe one day- an ultimate non-KYC/decentralized exchange with p2p and good UI will take over us. Alas one can fucking hope.

[hulla]

This is a wonderful news from coinbase exchange but I can never trust the exchange because they are use to centralized operation and usually folow the rules and regualtion of the US SEC. Besides, I even read an article last year about the numerous of their staff that quit working for them was due to racism.
Having  said that, @paxmao please provide the link the new next time for more insight.

If they are centralized now then you can finally trust them because that means that they everything that they do is already insured and any dealings are almost public so you don't have to worry. I think that it is a good compromise that they are registering in SEC because they can be on the good side of the government and they can grow their company because they can be bought in stocks.

Trusting in a centralized cryptocurrency platform is just like trusting the government (which have failed us on several occasions which led to Satoshi creating Bitcoin to liberation people economic and financially) we may somehow cause negative consequences to crypto if we don't care about decentralization.
The last time i checked, no exchange is totally insured.

This is a wonderful news from coinbase exchange but I can never trust the exchange because they are use to centralized operation and usually folow the rules and regualtion of the US SEC. Besides, I even read an article last year about the numerous of their staff that quit working for them was due to racism.
Having  said that, @paxmao please provide the link the new next time for more insight.

Coinbase has its fair share of negative reviews just like any other company out there, but discrediting it just because it is a centralized entity is silly in my opinion. Would you discredit Xrp too due to its centralized nature?

Discreting the exchange in subject (coinbase) will only be silly if they didn't withheld users funds and force KYC for no explanation which proves the abuse of power and all this happen because they are centralized.
Would I discredit XRP? Yes and I never for once invest or have a single XRP.

Despite all the negative reviews, Coinbase has helped improve cryptocurrency adoption in a big way and SEC approving them in this manner helps improve the popularity of cryptocurrencies like BTC, ETH, LTC etc in the long-term.

This is why I believe that Coinbase going public in this manner is great news overall. Also, the below link is what you are looking for.

https://www.google.com/amp/s/www.theverge.com/platform/amp/21722972/coinbase-black-racial-discrimination-new-york-times

Coin base only improve crypto currency through their startup project investment and if we're to mention exchange site that improves the adoption of crypto then it will be Binance and Kraken.
I don't think you notice that the coin base CEO somehow fear the US SEC and he can do anything to please them even if it hurting his exchange users affection.

[Kakmakr]

Coinbase will follow the same route that Circle has followed... they "hook" loads of Bitcoin customers and then they switch business models and they become some other government controlled entity like Circle. (Fiat Bank)

We know Coinbase has always been profit driven from the start and customers has always come second. They actually pissed on Bitcoin's Pseudo anonymity from day one. (They tell you.. the customer ....with their ToS ...how you can spend your bitcoins... if you use them.)

                                                               ((Not your keys not your bitcoins))  

[paxmao]

What's interesting is that
a) They are not conducting a IPO<snip>

No?  I thought when you get listed on a stock exchange, the initial stock sold to the public is the IPO.

Not exactly. It seems like they're doing a direct listing instead. Here's an article about the difference:

I think they would need to decide. There are three ways to go public that I know of: IPO, direct listing o SPAC.

...
                                                               ((Not your keys not your bitcoins))  

Not for institutions. Not your keys, but yes my insurance contract and cold storage agreement = my bitcoins.