What Coinbase Going Public Could Do For Crypto (Zycrypto)
, the biggest US-based cryptocurrency exchange has disclosed its detailed plan for the upcoming direct listing on the stock market by Nasqad. submitted an S-1 report to the US SEC outlining key information such as revenue and ownership structure for investors to carry out due diligence on the company.
According to the document, has 43 million verified users and an average of 2.8 million transactions per month. In 2020, the company returned a net income of $322 million from total revenue of $3.4 billion, with transaction fees constituting 96% of the net revenue.
The company incurred a total of $880 million in expenses for 2020, most of which went to sales, general administrative expenses, and research and development. Transaction reversal costs miners fees, staking fees, and verification expenses constituted $135 million of the total expenses,
The report indicates that much of the revenue for 2020 was generated from institutional investors’ activity in the crypto market but with higher retail activity in Q4 2020 than in previous quarters.
’s debut as the first publicly listed crypto-exchange in the US is estimated to be one of 2021’s largest new listings of the tech industry. This will have a huge positive impact on the crypto market investors and blockchain technology backers.
According to the crypto trader and analyst Rekt Capital, the public listing will officially open up cryptocurrencies to the public.
Now that has moved to a remote-first environment without headquarters in any city, the company is referring to itself as a.com/-is-a-decentralized-company-with-no-headquarters-a9762c02546″> decentralized company. Up to 95% of employees have the option to work at home, in a post-office world setting, or a mix of both.
“since we’ve made the decision to go remote-first we’ve decentralized ourselves; even after people can safely return to offices, the executive team has no plans to be “in-office” on a regular basis, and none of them currently live in San Francisco.”