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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