Despite the recent crypto news on our website and the $300 million funding raise, a top Coinbase executive said that the company will not go public anytime soon.
The Coinbase President Asiff Hirji explained that this crypto exchange and brokerage plans to list its shares on a public exchange in the following days.
“There’s not going to be an IPO any time soon. We have so much to do. At some point, yes, we will go public, but that’s not even close to the top of the list of things we’re worried about right now,” he said.
Ran NeuNer, the host of Crypto Trader wrote on Twitter that he will reveal the details of how Coinbase plans to hold an initial public offering but when the show aired, he said that he thought of it as a pre-IPO funding which eventually Coinbase announced past Tuesday.
Despite the recent $300 million raise in a Series E funding round that was led by Tiger Global Management, Hirji explained how he believes that the funding was opportunistic and that Coinbase is actually focused on diversifying its revenue streams.
He continued by saying:
“There are somewhere between two and three thousand cryptocurrencies out there. Let’s assume that 90 percent of them are garbage. That still means that 10 percent — there’s somewhere between two and three hundred that are legitimately worth investing in, legitimately worth taking part in. We offer seven. So you should expect us to go from seven to that total number that we think is worth it, over the next year or so.’’
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“We should challenge ourselves with a resolution to make new foundations, moving beyond the scope of protecting our past achievements,” Lee noted, confirming the news that Samsung taps blockchain.As we reported last month in our altcoin news section, the budget smartphones by Samsung will start to include cryptocurrency and blockchain features. Meanwhile, crypto and blockchain functionalities have already been confirmed for the Samsung S10 phone and will be included in other Galaxy smartphone models, too. At the end of April, one anonymous source also claimed that Samsung could eventually develop its own public-private blockchain which will be completed with its own token. This confirms the craze for blockchain technology and innovation that is currently spreading among Asian conglomerates.
First Legally Registered DAO Created By Blockchain Devs dOrg
“dOrg asked us to help design a DAO legal wrapper after discovering the potential of BBLLCs. We believe that dOrg is now the first legal entity that directly references blockchain code as its source of governance. Its material operations and ownership interests are managed entirely on-chain.”The dOrg group also noted that the BBLLC registration process should become much easier:
“We want to make what we just did accessible to anyone in the world. Ultimately, the process of configuring and deploying a legally registered DAO will be as easy as creating a social media account.”The ConsenSys-backed ‘’smart legal contracts’’ as previously explained in the coming altcoin news, project OpenLaw proposed a new Ethereum dapp called Incomshare.me which helps students to tokenize income share contracts and to take participation in secondary markets with them. The contracts help the students commit negotiated portions of future salaries. The Incomeshare.me platform uses the ethereum blockchain to host these contracts. OpenLaw community member Josh Ma noted
“As this alternative model for funding higher-education becomes more popular, enabling a secondary market would accelerate its adoption by providing liquidity and opportunities to mitigate risk, both attractive qualities for investors.”
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