Coinbase has announced it will go public via a direct listing, rather than an IPO.
In Brief:
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Coinbase allows users to buy and sell cryptocurrency.
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The FinTech filed a draft document to list publicly last month.
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No new shares will be created.
What does this mean?
As a private company, Coinbase has raised over $540mn. In selling its existing shares when it goes public, Coinbase could see some more success given the popularity of cryptocurrency at the moment.