Coinbase was reportedly seeking Goldman Sachs Services for an IPO

Coinbase, a large US crypto exchange, is reportedly seeking the services of Goldman Sachs to fulfill its IPO ambitions.

Goldman Sachs to Help Coinbase with IPO

That Coinbase ridicules going public in 2021 is public knowledge.

BTCManager it reported back in July that the digital currency exchange in San Francisco is considering going public later in 2020. However, now with the official filing with the U.S. Securities and Exchange Commission, it is speculated that it will the exchange will, of course, go public next year.

Now, according to two sources close to the matter, Coinbase has tapped Goldman Sachs’ services to lead its upcoming IPO. Interestingly, one of Coinbase’s two founders, Fred Ehrsam, who left Coinbase in 2017 had been a former trader at Goldman Sachs. Ehrsam is currently holding a board seat, to co-found a venture capital firm focused on cryptocurrency Paradigm.

While tapping Goldman Sachs’ services for an IPO is not at all surprising, it’s worth noting that the entity that wants to go public this time around is deeply involved in the cryptocurrency space, a class Goldman Sachs assets are too fond of. However, of late, a Wall Street veteran has been seen to adopt a curious stance toward digital money.

In contrast, several other banking and financial services organizations have shown a keen interest in cryptocurrencies, including people like JPMorgan, Citi, and others.

A Perfect Time to Go Public for Coinbase

While stock markets continue to rally despite the various uncertainties throughout the year surrounding the coronavirus pandemic and the US Presidential elections, crypto markets have outperformed all other markets in value terms. prices.

In fact, a few days ago, the largest cryptocurrency by market cap, bitcoin (BTC) surpassed its ATH value recorded during the 2017-18 bull run. At the time of writing, BTC is trading at more than $ 23,000.

Unsurprisingly, the surge in crypto markets has begun to receive some major media coverage. In that regard, the CEO of Coinbase on December 17 warned new investors in the space to exercise due diligence.

The blog post reads in part:

“While it’s great to see market rallies and news organizations turning their attention to this emerging asset class in a new way, we can’t stress enough how important it is to understand that investing in crypto without risk. ”

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