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Coinbase Announces Listing Date of Its Stock on the Nasdaq

blog.coinbase.com

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Re: Coinbase Announces Listing Date of Its Stock on the Nasdaq

#111

Post by fredfoobar »

ac29 wrote: post #42
qbasic_forever wrote: post #36

Honest question, why is Coinbase listing on the NASDAQ (edit: tangentially also NYSE)? If their whole business model is predicated on the success of crypto-currency shouldn't the whole world of fiat currency be completely irrelevant and a distraction?

The VCs that gave them many dollars would like their investment (and hopefully, profit) returned in dollars.

If there was an alternative option allowed by the SEC in the US, I'm certain that they'd have chosen that. This is not a cut and dry conclusion (that the investors want dollars).

Re: Coinbase Announces Listing Date of Its Stock on the Nasdaq

#112

Post by fredfoobar »

nostromo95 wrote: post #62
qbasic_forever wrote: post #57

Earlier quoted context omitted.

Ahh, there's the real reason. So why do the VCs want fiat and not crypto returns?

Well, (a) just because they invested in Coinbase, which does crypto, doesn’t mean they have as much confidence in crypto as they have in Coinbase—betting on Coinbase is a bet on the volatility of crypto + Coinbase’s ability to win, not a bet on the price of crypto, (b) you have to pay taxes in dollars, (c) their investors probably want dollars.

Why is it a direct conclusion that the investors want dollars? it's currently the only system that is available to Coinbase within the US and they're utilizing that. What is stopping the investors from buying back in with the dollars they gained? (you can't know that for sure either)

Re: Coinbase Announces Listing Date of Its Stock on the Nasdaq

#113

Post by fredfoobar »

kgog wrote: post #52
ac29 wrote: post #42

Earlier quoted context omitted.

The VCs that gave them many dollars would like their investment (and hopefully, profit) returned in dollars.

At a minimum, that's a signal for the future of cryptoCURRENCY. :)

How did you come to that conclusion?

Re: Coinbase Announces Listing Date of Its Stock on the Nasdaq

#114

Post by fredfoobar »

cecida wrote: post #7
thirdlamp wrote: post #2

Would've been interesting if they'd IPO through some crypto means, like on ether or something

Despite what Crypto Bros say, all they really want is to get filthy rich with real money.

Good zinger! that'll show them!

Re: Coinbase Announces Listing Date of Its Stock on the Nasdaq

#116

Post by RestlessMind »

qbasic_forever wrote: post #36

Honest question, why is Coinbase listing on the NASDAQ (edit: tangentially also NYSE)? If their whole business model is predicated on the success of crypto-currency shouldn't the whole world of fiat currency be completely irrelevant and a distraction?

Coinbase CEO and CFO did an AMA on Reddit on the topic of IPO and this question was raised. Read for yourself (search for "security token"): https://old.reddit.com/user/CoinbaseListing/comments/m71qrc/...

Re: Coinbase Announces Listing Date of Its Stock on the Nasdaq

#117

Post by droidist2 »

albertshin wrote: post #86
superfrank wrote: post #17

There was a time when would have loved to buy Coinbase stock. Just a few years ago, they were by far the easiest was to buy crypto (IMO). At that time they also felt like the most legitimate site and for people who didn't 100% know what they were doing, but wanted to buy some Bitcoin, that perception of legitimacy is important. For those reasons, I feel like they kind of dominated the casual coin holder space, and I…

in the few times I've traded BTC, I've personally seen tighter spreads in Coinbase (fixed + % fee) than Robinhood Crypto ("free"). I'm aware there can be many reasons for this but I couldn't help but wonder if Robinhood was baking in some hidden fees.

I think the reason is because Coinbase Pro has an API. People running trading bots keep the spreads tighter.

Re: Coinbase Announces Listing Date of Its Stock on the Nasdaq

#119

Post by chrischattin »

perardi wrote: post #90
sjg007 wrote: post #60

What happens when the US bans Bitcoin?

I don’t think anyone has seriously suggested such a thing would happen. India, though, has floated such a ban. https://www.reuters.com/article/uk-india-cryptocurrency-ban/... And I don’t think it would be crazy to imagine China doing such a thing.

China already has banned/unbanned Bitcoin several times.

Re: Coinbase Announces Listing Date of Its Stock on the Nasdaq

#120

Post by ErikBjare »

fredfoobar wrote: post #112
nostromo95 wrote: post #62

Earlier quoted context omitted.

Well, (a) just because they invested in Coinbase, which does crypto, doesn’t mean they have as much confidence in crypto as they have in Coinbase—betting on Coinbase is a bet on the volatility of crypto + Coinbase’s ability to win, not a bet on the price of crypto, (b) you have to pay taxes in dollars, (c) their investors probably want dollars.

Why is it a direct conclusion that the investors want dollars? it's currently the only system that is available to Coinbase within the US and they're utilizing that. What is stopping the investors from buying back in with the dollars they gained? (you can't know that for sure either)

They want dollars to make the paperwork and accounting easier. They're obviously not going to hold them for long.
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