Coinbase Allegedly Hired Goldman Sachs Group To Lead Its IPO Preps

Coinbase allegedly hired Goldman Sachs Group Inc to lead the preparations for its upcoming initial public offering as we reported in the previous Coinbase news.

The digital asset trading venue has doubled-down on the endeavors for the planned stock market listing and now Coinbase allegedly hired Goldman Sachs Group, the US multinational bank that already has a controversial history with the entire crypto industry, to lead the IPO preparations.

As recently reported, the crypto exchange has submitted a draft registration statement with the US Securities and Exchange Commission by completing the Form S-1 and completing the initial registration form for the new securities that are required by the Commission for the public companies which are based in the United States. Citing a person that is familiar with the matter, the reports show that coinbase had hired Goldman Sachs Group Inc in order to lead the preparations for the IPO so it is worth noting that the exchange failed to confirm or to deny the information up until now.

By exploring multiple Coinbase business segments like cards, fees, and trading volumes,  as well as the number of registered clients and more, Messari estimated that the potential valuation of the IPO will likely hit $28 billion. Goldman has a controversial history with the entire crypto field.
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The banking giant led investment rounds worth $135 million between 2013 and 2016 for the peer-to-peer payments technology company Circle.

With the new collaboration with CitiGroup, Goldman employed the blockchain technology to execute the equity swap, and also the Goldman new head of the digital asset department hinted that the bank will likely explore launching one stablecoin. On the other hand, the banking giant criticized BTC and other digital assets by saying that these are not an asset class with recently stating that the bank compared BTC to gold and noted that both will coexist as hedge instruments.

As reported recently, Coinbase Global announced a short while ago that it submitted a draft registration statement with the Securities and Exchange Commission. The announcement cited a Form S-1 which is the initial registration form for the new securities required by the SEC for public companies that are based in the US.  Any company or security that will meet the criteria will have to have the S-1 filing before the shares can be listed on the national exchange.