Coinbase files for IPO with the SEC

Coinbase will list on the Nasdaq as a Class A common stock under the ticker symbol COIN and offer its shares using a direct listing instead of a traditional IPO.

After losing money in 2019, they’ve revealed that their revenue doubled in 2020. The company reports that revenue is very dependent on the Bitcoin market.

In the filing, they noted

This is the primary risk factor for investors.

With the market reaching a market cap of $1 trillion in recent weeks, the cryptocurrency market remains extremely volatile. It has tendencies for huge spikes and declines in a matter of minutes.

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