Coinbase IPO delayed until beginning of April

Cryptocurrency exchange Coinbase’s highly anticipated public offering has been shifted to April after its plan for a March listing “slipped,” according to a Bloomberg report citing people familiar with the matter.

  • No reason was given for the delay, but Bloomberg noted the U.S. Securities and Exchange Commission (SEC) has been reviewing the San Francisco-based exchange’s plan for a direct listing.
  • Coinbase formally announced its plans to go public on the Nasdaq in January and this past week registered for as many as 114.9 million shares to be traded.
  • Coinbase Class A shares will debut on the Nasdaq Global Select Market under the ticker “COIN.”
  • CoinDesk reached out to Coinbase but did not receive a response by press time.
  • Yesterday, it was announced Coinbase will pay $6.5 million in a settlement with the Commodity Futures Trading Commission (CFTC) over allegations the exchange “self-traded” digital assets between 2015 and 2018.

Source: Coindesk