CNBC’s Ryan NeuNer, who hosts CryptoTrader, has promised to release details on the anticipated Coinbase Initial Public Offering.
CNBC Cryptotrader exposes details of the Coinbase IPO raise tomorrow on a Cryptotrader exclusive. pic.twitter.com/YG4UOP3ju8
— Ran NeuNer (@cryptomanran) October 25, 2018
CNBC previously reported that Coinbase was likely to take the “most obvious path” and become a public company.
According to screencaps published along with the tweet, Coinbase has approximately 25 million users, around 600,000 of whom trade monthly. Coinbase earned almost half a billion dollars last year, 80% of which was from consumers. The firm’s recent announcement that it had been approved as an independent custodian in New York will likely only improve its revenues.
The IPO prospects of Coinbase are interesting. It will be one of the first major stock symbols to be directly tied to the value and performance of crypto assets, in that the performance of the company very much relies on the health of the crypto economy. At the same time, it raises the question as to why investors wouldn’t simply invest in the currencies themselves as opposed to investing in one of a host of companies who facilitate acquisition, stewardship, and trading of such currencies.
This story is being updated.