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Coinbase, the largest US cryptocurrency company, is preparing for IPO



Ren Cry Nuner, host of Crypto Trader on CNBC Africa, on his October 25 tweet states that Coinbase , the exchange and cryptocurrency wallet operator, is about to announce an IPO.

Neuer states that the details of Coinbase’s IPO will be revealed on October 26 in a live broadcast of its Crypto Trader show.

The moderator also presented data on the number of Coinbase accounts and company revenues. His infographics shows that the number of Coinbase users has reached 25 million and that there are about 600,000 active traders on the platform.

According to Newner, a cryptocurrency exchange from California in the last quarter received income of $ 90 million and plans to earn $ 450 million in the fourth quarter of 2018. 80% of revenue accounted for ordinary users, 15% – for institutional investors, and the origin of the remaining 5% was not disclosed.

Coinbase President Asif Hirji first hinted at an IPO at the end of 2017. Asked about the possibility of turning the company into a public one, he said:

This is certainly in the interests of our investors. The most obvious way for Coinbase is to become a public company at some point, although there is still a lot to do.

In September, Coinbase CEO Brian Armstrong spoke in the same vein.

In early October, the Recode technology edition, citing unnamed sources, estimated Coinbase at $ 8 billion. The publication also stated that the company was in talks with Tiger Global about an investment of up to $ 500 million.