Coinbase has announced impressive first-quarter results one week before the exchange’s direct listing on Nasdaq, estimating that trading volume is up 276% and quarterly revenue has hit $1.8 billion. The bountiful revenue, revealed in the company’s Q1 earnings call, dwarfs its $190-million revenue from the same time last year, with the company attributing a portion of this explosive growth to Bitcoin’s (BTC) bull market. The American exchange estimated net income between $730 million and $800 million and an EBIDTA of approximately $1.1 billion. The bull market has also seen monthly active users grow to more than 6 million users, up …

INX Limited, a Gibraltar-based platform for trading securities and cryptocurrencies, is preparing to finish its initial public offering soon. According to a Monday announcement, April 22 will be the last day of INX’s IPO as the company expects to have listed its token on at least one public trading platform by the end of May 2021. INX plans to launch the INX Digital trading platform shortly after the IPO ends, the firm said. INX launched the IPO in August 2020, planning to raise up to $117 million in a security token offering approved by the United States Securities and Exchange …

Bitcoin (BTC) is primed for a price breakout after beating out volatility, but April may still produce a surprise sell-off. In his latest market update on Friday, Filbfilb, co-founder of trading suite DecenTrader, said that he now expects upside to take over on BTC/USD. BTC “threatening a breakout” Bitcoin has recovered from its flash crash earlier in the week and briefly hit $60,000 overnight on Friday. With seven-day gains still at 13%, there are plenty of reasons to be bullish in the short term now that consolidation looks set to conclude, Filbfilb argues. “With the weekend looming amidst a buoyant …

U.S.-based crypto exchange Coinbase says it anticipates going public with a direct stock listing in two weeks. According to a Coinbase blog today, the U.S. Securities and Exchange Commission, or SEC, has declared the crypto exchange's S-1 registration for a public offering effective. Coinbase's Class A common stock is expected to trade on the Nasdaq Global Select Market under the ticker symbol "COIN" on April 14. The crypto exchange had previously been expected to go public in March, but reportedly delayed its plans after paying a $6.5 million fee as part of a settlement with the Community Futures Trading Commission, …

Over the course of 2020, eToro sized up significantly, as Assia explained: “We’ve grown more than 147% year-over-year revenues,” he noted. This year rolled in with mainstream and crypto bull markets in full swing, in tandem with “the biggest discussion we’ve seen in human history around the intersection of social media and investment platforms” — all bubbling together to form what Assia labeled as “a perfect storm.” He added: “We’re seeing an immense interest all around the world from people who want to participate in the global markets, which was our original vision from 2017 when we started our business …

The Coinbase direct stock listing could be a rite of passage for the blockchain and cryptocurrency industry, and the announcement on March 20 by the United States Commodity Futures Trading Commission of a $6.5-million fine against Coinbase for “wash trading” and filing misleading information probably won’t do more than postpone by a few weeks the distinction of being the first crypto-native corporation to be listed on a major U.S. stock exchange. But questions surround Coinbase’s upcoming debut on the Nasdaq exchange: Is the crypto exchange really worth the $100 billion — as suggested by a pre-IPO public auction? Is its …

London-based cryptocurrency services provider Blockchain.com has raised $300 million in a new investment round that valued the firm at $5.2 billion — up from a $3 billion valuation just one month ago. The investment round was led by DST Global, Lightspeed Venture Partners and VY Capital, and is the crypto industry's third-largest capital raise to date. The sum is equal to that raised in a single round by Bakkt in March 2020, trailing only behind BlockFi's $350 million earlier this year and Bitmain Technologies' $400 million back in 2018. Just one month ago, Blockchain.com raised $120 million at a subsequently …

Robinhood Markets Inc., a popular trading app that recently expanded its cryptocurrency business, has filed paperwork with the United States Securities and Exchange Commission, or SEC, to go public. The company confirmed Tuesday that it had confidentially submitted a draft registration statement on Form S-1 with the SEC relating to the proposed public offering of its common stock. Form S-1 requires companies to provide more detailed information on the planned use of capital proceeds., as well as a brief prospectus on the proposed security. While Robinhood didn’t specify when the IPO would take place, it confirmed that a public offering …

San Francisco-based crypto exchange Kraken has not yet confirmed that it will follow in Coinbase's footsteps by pursuing a public listing, though the company did rule out the possibility of doing so via a special-purpose acquisition company. In a written statement to Cointelegraph, Kraken said it would pursue a direct listing in the event the exchange decided to go public in the United States. This follows speculative reporting from Fox Business’ Charles Gasparino, who yesterday claimed that Kraken was considering “going public possibly through a SPAC or IPO.” “If Kraken would decide to go public, it would do so through …

Cryptocurrency exchange Coinbase has registered 114,850,769 shares of class A common stock for a direct listing on the Nasdaq stock exchange, as per an amended S-1 filing with the United States Securities and Exchange Commission. Coinbase announced its intention to launch an initial public offering back in December 2020 when it first filed registration forms with the SEC. By early March, the pre-market private trading price of the shares had risen as high as $375, giving the company an estimated pre-IPO valuation of around $100 billion at the time. The updated S-1 filing suggests a volume-weighted average price per share …

Prominent Bitcoin (BTC) and cryptocurrency exchange Coinbase could be headed for an IPO valuation of $100 billion, after shares reportedly sold for up to $375 each in a private auction. Shares in Coinbase Global Inc. reportedly traded for a price between $350 and $375 per unit on the Nasdaq private auction market last week, giving the company a pre-IPO valuation of between $90–$100 billion, according to a report by Bloomberg. Trading reportedly ended with the share price at $350. A Coinbase series E funding round in 2018 first saw the stock valued at a potential $8 billion. That valuation increased …

Cryptocurrency and blockchain firms are attracting billion-dollar valuations as the space continues to see major investment in 2021. The likes of exchanges Coinbase and Kraken have had mind-boggling numbers attached to their plans to raise funds, with the former set to go public through a direct listing and the latter preparing for a lucrative fundraising round. Since it formally announced its plans for a public listing, Coinbase has been tipped to be valued at around $28 billion by cryptocurrency analytics firm Messari. Meanwhile, news of Kraken’s efforts to receive investment from private firms in a new fundraising round saw insiders …