$85,197.00
-1.94%$1,890.14
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0.44%$131.20
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0.01%$0.181257
-6.81%$0.701443
-4.36%$0.229849
-1.98%$1,890.46
-6.24%$85,081.00
-2.03%$4.01
4.86%$14.29
-8.35%$9.71
-0.32%$20.41
-7.21%$0.274732
-4.13%$2,263.67
-6.29%$2.54
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-6.05%$0.999656
-0.03%$0.183794
-3.73%$87.73
-6.48%$4.26
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-2.58%$311.17
-5.79%$4.74
-4.64%$0.821192
-2.92%$1,889.05
-6.41%$0.999048
-0.01%$0.999302
-0.08%$13.77
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-6.36%$28.90
-0.68%$220.41
-0.91%$6.24
-7.65%$2.77
-7.39%$5.47
-7.35%$0.00000779
-6.73%$1.046
0.08%$36.82
2.12%$48.67
-2.55%$0.105914
6.66%$22.80
-2.85%$85,167.00
-1.97%$0.818681
-2.73%$5.66
-6.03%$0.853558
-5.94%$172.56
-5.93%$17.13
-5.20%$0.99923
0.06%$1.16
0.15%$254.62
-4.93%$0.02436937
-6.70%$10.30
-9.05%$3.59
-2.56%$0.388803
-10.14%$4.60
-3.99%$1.00
0.00%$3.73
-5.83%$2.85
-5.24%$0.212582
-8.83%$0.070315
-6.81%$84,346.00
-3.22%$0.560404
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0.11%$0.202468
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-7.56%$0.50817
-6.41%$5.38
-6.78%$11.16
-1.82%$0.832589
-7.42%$0.509836
-6.39%$84,923.00
-2.28%$1,408.36
-0.66%$0.483673
-1.50%$1,966.68
-6.16%$1,886.01
-6.53%$1.12
-4.50%$0.070117
-0.85%$136.99
-4.56%$72.27
-5.06%$0.586084
-8.45%$0.868272
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2.16%$0.670766
-8.95%$0.00001266
-7.47%$1.001
0.11%$0.195029
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-6.37%$0.997685
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0.27%$1.00
0.03%$0.584755
2.45%$0.01384004
-4.44%$0.926626
-10.58%$84,701.00
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0.10%$0.999484
0.02%$3,092.11
1.30%$0.999855
0.00%$628.26
0.23%$2,003.01
-6.51%$0.01693431
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-1.75%$0.684764
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0.84%$33.19
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13.81%$1,968.22
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0.01%$0.68937
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0.22%$0.547066
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0.02%$0.442583
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0.08%$0.180307
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6.95%$27.09
5.85%$1,889.23
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0.17%$1,890.46
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0.09%$0.500515
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0.01%$1.097
0.03%$1,972.44
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0.00%$84,419.00
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0.07%$1,909.32
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6.42%$22.85
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0.73%$0.003441
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1.40%$0.22583
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-0.99%$0.257445
-6.90%Reading
Role
Co-founder and CEO of Coinbase
Location
San Francisco, California
Education
Rice University
Current Project
Coinbase
Previous Projects
Airbnb, UniversityTutor.com, Deloitte, IBM
San Francisco-based Coinbase yesterday announced that it has confidentially submitted a filing for an Initial Public Offering.
But while public investors must wait until Coinbase hashes out the details with the US Securities and Exchange Commission, crypto exchange FTX has jumped the gun, and may soon let its customers in on a pre-listing futures contract market for shares in Coinbase, FTX’s CEO, Sam Bankman-Fried told Decrypt.
As first reported by Coindesk, and as confirmed to Decrypt, Bankman-Fried is working with CM-Equity, the German capital markets firm FTX partnered with when it launched tokenized stock markets in October, to work out whether the market would be compliant. "We're going to try to do it, but not sure yet whether we'll be able to," Bankman-Fried told Decrypt.
An IPO is kind of like an ICOICO, although instead of cryptocurrency tokens, up for sale are shares in a company. And instead of avoiding the US Securities and Exchange Commission like the plague, Coinbase is embracing the regulator and will only run the IPO with the SEC’s blessing.
Coinbase raised $547.3 million in funding since it was founded in 2012, according to CrunchBase data. Crypto market analysis firm Messari valued the exchange at $28 billion. In July, Coinbase disclosed that it has 35 million customers.
Your stock is gonna dump everytime your servers go down which is daily
— Themovingavg (@themovingavg) December 17, 2020
FTX launched a similar pre-IPO market for Airbnb ahead of its launch on December 10. When Airbnb’s IPO launched, shares more than doubled in price.
So, how to buy a stake of this hypothetical Coinbase pre-IPO contract?
Well, on the assumption that it’s no different to the AirBNB contract, you’ll have to sign up for FTX, then buy some of the US-dollar-pegged stablecoin, USDC. Coincidentally, USDC is run by Centre, a Consortium of crypto company Circle and...Coinbase!
To buy some USDC, you can buy it straight from crypto exchanges like Coinbase in exchange for fiat currencies, or trade it for another cryptocurrency, such as Bitcoin.
Then, you can swap your newly purchased USDC for FTX’s tokenized Coinbase IPO stock. And voila! A tokenized piece of Coinbase CEO Brian Armstrong himself. Which piece will you buy?
Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
France-based public investment bank Bpifrance announced Thursday plans to invest $27 million (€25 million) directly into tokens and decentralized technologies in an effort to “strengthen the French blockchain ecosystem.” Announced during a blockchain-focused event in Paris, the bank’s investment seeks to accelerate its “digital asset investment strategy” by bolstering French crypto startups and assisting the local venture capital players in Web3. “We are convinced of the growing importance that...
Tether revealed Thursday it is investing in a pair of firms unrelated to the crypto industry, continuing an investment spree that has only intensified since the company reported record profits earlier this year. The El Salvador-based company snapped up 49,596,510 shares of Latin American-focused agricultural firm Adecoagro, growing its stake in the business to 70%, according to an SEC filing published Thursday. "Our investment aligns with Tether's broader strategy to back infrastructure, techn...
GameStop’s announcement on Wednesday that it would sell convertible debt to buy Bitcoin and bolster its balance sheet seems contrary to its past approach to digital assets. In recent years, the video game retailer debuted an ill-fated NFT platform and sold large quantities of IMX, the native token of Ethereum layer-2 network Immutable X. GameStop now appears to be following the path of Bitcoin hodler Strategy, saying it will offer $1.3 billion worth of convertible senior notes and potentially u...
