Largest U.S. cryptocurrency exchange Coinbase files for IPO

Digital currency exchange Coinbase is going public as renewed investor interest in cryptocurrencies has pushed bitcoin to an all-time high…

On Thursday the company announced that it has confidentially submitted a draft registration statement on Form S-1 with the Securities and Exchange Commission. The form is expected to go into effect after the SEC completes its review process.

California-based Coinbase, founded in 2012, has long been a go-to spot to buy and sell cryptocurrencies, and the company has grown into the largest digital currency exchange in the U.S.

The company’s filing comes on the heels of a surge in the price of bitcoin. On Thursday the largest cryptocurrency rallied more than 12% to top $23,000 for the first time on record, according to crypto market data provider Coin Metrics. The move came just one day after the cryptocurrency topped the $20,000 mark for the first time.

With Thursday’s jump, bitcoin is now up more than…

Continue reading at CNBC.COM

 

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