Coinbase IPO Could Be Valued at $28 Billion: Messari

Coinbase, the American cryptocurrency exchange that is planning for an initial public offering (IPO), could be valued at $28 billion, according to research company, Messari.

This valuation estimation came hours after the California-headquartered company announced the submission of a draft registration statement on Form S-1 with the US securities market regulator, eying for a public listing.

Mesarri came up with the valuation after evaluating the exchange’s all business vertices that include trading, custody and debit cards.

“Recently the company shuffled its board to include venture capitalist Marc Andreessen and Google veteran Gokul Rajaram along with former Cisco CFO Kelly Kramer in what appears to be final preparations for an offering that could see the company valued at $28 billion,” Messari wrote.

Perfect Time for a Wall Street Debut

Coinbase is one of the largest and reputed cryptocurrency exchanges with around 35 million users. It handles a daily volume of $1 billion from cryptocurrency trading, and its custody business boomed with current $20 billion in assets from the 2019’s $7 billion.

Though Coinbase did not reveal its latest valuation, $28 billion in market valuation would not be strange given its growth over the years and the market potential.

In its last $300 million funding round closed in October 2018, Coinbase was valued at $8 billion, only a year after it gained the 'Unicorn Unicorn Unicorns represent privately held startup companies whose value exceeds $1 billion. The term itself was coined by venture capitalist Aileen Lee back in 2013, with Unicorns since assuming the gold standard of companies.At the time of writing, approximately 465 unicorns exist, with standouts becoming ubiquitous in everyday life. This includes Ant Financial, DiDi, Airbnb, Stripe, Lyft, and Palantir Technologies, among many others.While all wildly successful, many unicorns are themselves the product Unicorns represent privately held startup companies whose value exceeds $1 billion. The term itself was coined by venture capitalist Aileen Lee back in 2013, with Unicorns since assuming the gold standard of companies.At the time of writing, approximately 465 unicorns exist, with standouts becoming ubiquitous in everyday life. This includes Ant Financial, DiDi, Airbnb, Stripe, Lyft, and Palantir Technologies, among many others.While all wildly successful, many unicorns are themselves the product Read this Term' status with $1 billion in valuation. Founded in 2012, Coinbase raised over $525 million to date.

“This listing is important even for Token valuations as Coinbase will provide a valuation anchor — not only for future equity listings — but also for crypto-native exchange tokens,” Messari analyst, Mira Christanto noted.

The timing of Coinbase’s approach for an IPO is perfect as Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term is showing bullish signs after breaching the $20,000 mark, creating more activities on the cryptocurrency exchanges.