In line with a recent official tweet, the host of of the Crypto Traders show ‘Ran Neuner,’ on CNBC Africa, claims that major crypto exchange and wallet Coinbase is close to announce its 1st IPO [Initial Public Offering]. Neuner states thatthe main outlineson Coinbase’sIPO will be revealed on 26th Friday .i.e today.,live tothe CNBC’s Crypto trader show.
The hostconjointlyprovided statistics on Coinbase’s revenue and account numbers in his post. The infographics show thatseveral users on Coinbase hascurrentlyreachedtwenty fivemillion, with 600,000 activelytradingon the platform.
In line with the data revealed, the California-based crypto exchange ‘Coinbase’ has seen $90 Mln in revenue in its last quarter, with expectations to earn $450 Mlnwithin thelast quarterof 2018.80%of its revenue came fromcustomers, 15%additionalfrom institutional accounts, along 5% from from other sources that was not disclosed by the company.
The president of Coinbase ‘Asiff Hirji’ primarilyhintedregardingan associatedIPOin late 2017.Onceaskedregarding the possibilityof takingthe companypublic, he added:
“It isdefinitelywithin theinterest of our investors…andthe foremostobvious path of Coinbase isto travel public at somepoint,howeverthere’sheapsforusto try between now and then, whenever that date is.”
Earlier inOct., U.S.techmediaRecodecited2anonymoussourcesacquainted withthe matterwhosaid thatCoinbase wasclose tofinalizea dealthat willvaluethe companyataround$8 Bln.Particularly, the crypto exchange was allegedly in talks with Tiger Globalalong with its current shareholders for an investment of up to $500 Mln.