Kraken is in talks with firms including Fidelity, Tribe Capital and General Atlantic to raise the funds. However, if demand is as high as some suspect it will be, Kraken’s value could exceed $20 billion. That follows yesterday’s news that its larger competitor, Coinbase, filed a Form S-1 with the U.S. Securities and Exchange Commission, confirming reports that it will go public with a direct stock listing, probably on Nasdaq.
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Markets Report: Bitcoin taps support at $44,000 after week of losses
A painful few days for hodlers looks set to culminate in a test of various critical support levels
Bitcoin has almost completed another rollercoaster week in which it met its second major price correction of 2021. Having hit $58,300 all-time highs, bulls lost steam with a retracement becoming a full-on dive in which Bitcoin lost 20%. Subsequent ranging combined with fresh weakness has taken weekly losses to almost 25%.
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Coinbase will go public with historic direct stock sale
The listing will make the U.S.-based cryptocurrency exchange the first firm in the industry to become a public company by selling stock
The leading U.S. cryptocurrency exchange intends to become a publicly traded company with a direct listing of its Class A shares rather than a traditional IPO.
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Brian Armstrong has plans for Coinbase that go far beyond a cryptocurrency exchange (Photo: TechCrunch)Coinbase pitches a grand design in buying Bison Trails
Purchasing the blockchain infrastructure provider is part of Brian Armstrong’s goal of growing Coinbase is beyond its roots as a cryptocurrency exchange
In a Jan. 19 statement on its blog, Coinbase portrayed the move part of a grand design, calling it “an important step in delivering on our mission to create an open financial system for the world.” It’s also part of a business strategy to turn the infrastructure Coinbase built for itself into a suite of products available to any developer.
