Largest U.S. cryptocurrency exchange Coinbase files for IPO as bitcoin soars past $23,000
The Bitcoin rate chart will be displayed in the Coinbase Cryptocurrency Exchange application on February 12, 2018.
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Digital money exchange Coinbase goes public as investors’ renewed interest in cryptocurrencies has pushed Bitcoin to an all-time high.
The company announced on Thursday that it had confidentially filed a draft registration statement on Form S-1 with the Securities and Exchange Commission. The form is expected to take effect after the SEC completes its review process.
The Californian company Coinbase, founded in 2012, has long been a port of call for buying and selling cryptocurrencies. The company has become the largest digital currency exchange in the United States
The company’s filing follows an increase in Bitcoin price. The largest cryptocurrency rose more than 12% to over $ 23,000 on Thursday, according to crypto market data provider Coin Metrics. The move came just a day after the cryptocurrency topped the $ 20,000 mark for the first time.
With the jump on Thursday, Bitcoin is now up more than 200%. Bitcoin has drawn a lot of attention from investors lately, and Paul Tudor Jones and Stanley Druckermiller are among those who have spoken out in favor of cryptocurrency. Big financial companies like PayPal and Fidelity have also taken steps in this area.
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