Jan 28, 2021 - Economy & Business

Coinbase settles on direct listing to go public

Illustration of a crypto coin pixelating and gradually disappearing
Illustration: Aïda Amer/Axios

Coinbase, the cryptocurrency trading company, said Thursday that its public debut will be a direct listing instead of a traditional IPO.

Why it matters: Coinbase's public listing has been hotly anticipated as a potential tipping point for the cryptocurrency industry to go mainstream. The direct listing route — which allows existing shareholders to sell their stock into the market while the company doesn't raise new funds — has been slowly gaining more traction with Palantir and Asana as the latest to go that direction.

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