Breaking down Coinbase's S-1 filing and what it means for the bitcoin market
Episode 10 of Season 3 of The Scoop was recorded remotely with The Block’s Frank Chaparro and Larry Cermak.
Listen below, and subscribe to The Scoop on Apple, Spotify, Google Play, Stitcher or wherever you listen to podcasts. Email feedback and revision requests to podcast@theblockcrypto.com.
This episode is brought to you by Kraken
Whether you’re an experienced crypto trader or just starting out, Kraken has the tools to help you achieve financial freedom. With 50+ cryptocurrencies to choose from, industry-leading security and a wide variety of features to suit any investing strategy, Kraken puts the power in your hands to buy, sell and trade digital assets. Visit Kraken.com to get started today.
Thursday morning, Coinbase's S-1 filing went public, revealing for the first time details about its financials, cap table, and its pitch to the investment world ahead of a planned direct listing on Nasdaq.
In this episode of The Scoop, The Block's director of news Frank Chaparro and director of research Larry Cermak unpack the S-1 filing's headline-grabbing sections and the broader implications of Coinbase's plan on the broader bitcoin market.
Coinbase has been preparing to go public for several months. For the past several weeks, the firm's shares have been changing hands on Nasdaq Private Market, with the most recent secondary shares clearing at an average of $373 — implying a valuation of $100 billion.
In this episode of The Scoop, Chaparro and Cermak explore Coinbase's revenues, how the firm's institutional business has surged in lockstep with bitcoin's price run-up, and how Coinbase's position as a public company will impact the firm and wider market.
© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.