Coinbase officially announces bid to become public company via direct listing

Coinbase has made official its plan to go public by way of a direct listing, according to a blog post released Thursday by the U.S.-based crypto exchange.

"Coinbase Global, Inc. today announced its intent to become a publicly-traded company pursuant to a proposed direct listing of its Class A common stock. Such proposed listing is expected to be pursuant to a registration statement on Form S-1 with the Securities and Exchange Commission (the “SEC”)," Coinbase wrote in the blog post.

Coinbase announced in mid-December that it filed a confidential S-1 with the U.S. Securities and Exchange Commission. 

"The Form S-1 is expected to become effective after the SEC completes its review process, subject to market and other conditions," Coinbase said Thursday.

As The Block previously reported this month, Coinbase told shareholders that it would launch a secondary market for its private stock on Nasdaq Private Market.