Coinbase Allegedly Taps Goldman Sachs to Lead IPO, FTX Exchange May Launch Pre-IPO Futures

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Following the San Francisco-based cryptocurrency exchange’s initial public offering (IPO) Form S-1 draft registration, reports note that Goldman Sachs will likely lead the IPO. Moreover, the digital currency trading platform FTX is rumored to be launching a Coinbase futures market before the public listing.

• Two days ago, on December 17, 2020, Coinbase announced filing registration papers with the U.S. Securities and Exchange Commission (SEC). “The Form S-1 is expected to become effective after the SEC completes its review process, subject to market and other conditions,” the San Francisco exchange detailed.
• Recent analysis from messari.io analyst Mira Christanto details that the company recently changed members of the board and included former Cisco CFO Kelly Kramer, Google veteran Gokul Rajaram, and venture capitalist Marc Andreessen. Christanto says that the final preparations of the IPO “could see the company valued at $28 billion.”
• Business Insider’s financial columnist Meghan Morris has revealed that Coinbase will leverage the financial institution Goldman Sachs to lead the IPO. The Goldman Sachs deal was allegedly confirmed by two industry sources, but the San Francisco exchange has yet to confirm the choice.
• Digital Currency Group’s founder Barry Silbert was pleased with the Coinbase filing announcement and tweeted about the registration on Thursday. “Thanks to the Coinbase IPO, the acquisition price of a bunch of crypto companies is about to go way way higher,” Silbert tweeted to his 242,000 social media followers.
• According to a report published by Coindesk, FTX CEO Sam Bankman-Fried told the reporter that the team is planning to launch Coinbase IPO futures if the Form S-1 is greenlighted by U.S. regulators.

• FTX has already launched a pre-IPO futures market for Airbnb and has also created Trump and Biden presidential election futures as well. Bankman-Fried told the reporter Zack Voell that the pre-IPO Coinbase futures launch could be “very soon” or “could also never happen.”
• The exchange Coinbase launched in 2012 and is one of the most popular digital asset providers worldwide. In 2017, Coinbase achieved unicorn status and in 2018 the company was valued at $8 billion.

What do you think about the Coinbase initial public offering (IPO) and Goldman Sachs leading the IPO? What do you think about the FTX pre-IPO futures? Let us know what you think about this subject in the comments section below.

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