Coinbase filed preliminary documents announcing it was going public back in December. On February 25th, the official paperwork detailing the listing process was made public.
With over 43 million users around the world and over $456 billion record transactions to date, Coinbase is the largest crypto-exchange in the U.S.
Unlike traditional Initial Public Offerings (IPO), direct listings tend to be a lot less expensive for companies due to cutting out most of the middlemen in the underwriting process. While it’s not confirmed exactly when Coinbase will start trading publicly, it could start as early as March.
Coinbase will also be trading under the COIN ticker in the Nasdaq, and you can expect Armstrong’s net worth to go up even more.