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Crypto Exchange Coinbase Purportedly Approaches Goldman Sachs For IPO

The US based cryptocurrency exchange, Coinbase has purportedly touched base with Goldman Sachs to head its imminent IPO. The aforementioned move might reinforce the demand of virtual assets among a wide-ranging mainstream audience. 

Alluding to a few sources conversant with the news, Business Insider reported recently that Coinbase has allegedly reached out to Goldman Sachs to handle its public filing. No extra particulars were provided.

It is to be noted that Coinbase has been linked to Goldman Sachs through Fred Ehrsam for years, the co-founder of the exchange who formerly worked at the bank as a trader. As per the report of Business Insider, Ehrsam worked at Goldman between 2010 and 2012 before resigning to establish Coinbase with Brian Armstrong, the present CEO of the digital asset exchange.

Notably, the report appeared a day after Coinbase confirmed its objective to go public in a draft registration sent to the SEC. The crypto exchange was worth approximately eight billion dollars, as per its latest valuation in 2018. Digital asset analytics company Messari mentions that Coinbase could be valued at twenty-eight billion USD subsequent to its IPO.

Several speculations of a Coinbase IPO have been circulating for some time. Nevertheless, plans were never made official until recently.

What do you think about the Coinbase IPO? Let us know in the comments below!

Image by Gerd Altmann from Pixabay