The cryptocurrency exchange Coinbase is set to be listed on the US Stock Exchange. For this, Coinbase will do its IPO on 14 April. The company will raise $ 114.9 million, or about Rs 856 crore, from the primary market through this IPO. If Coinbase's IPO is successful, the company will be listed on the NASDAQ in the name of Coin.
With this, Coinbase will become the first cryptocurrency exchange to be listed on NASDAQ. The company released its quarterly results this week before the IPO. Total revenue to the company in the first quarter of 2021 was more than $ 1.8 billion i.e. Rs 13,400 crore.
Coinbase's strong revenue is expected to give US market experts a strong listing on the NASDAQ. Let us know that Coinbase offers 29 different cryptocurrency trends including Bitcoin on its platform. The crypto exchange was started in 2013 by Brian Armstrong, a veteran of Airbnb Inc. and Fred Ehrsam of Goldman Sachs.
Its balance sheet is like this
The company's total revenue in the first quarter of 2021 stood at $ 1.8 billion, while the company's net income was $ 800 million. Coinbase has 5.6 crore verified users. The company's revenue this quarter was not as much as the revenue it had received in the last 2 years.