Happy Thursday, Blockfolians
The Coinbase IPO promises to be one of the biggest events in the history of our young industry - at least when it comes to our overlap with traditional markets.
Today the SEC published its Form S-1 - a document that gives much previously unknown detail about the company.
In Q4 of last year, Coinbase had 43m users, of which 2.8m transacted monthly
The volume coming from institutional vs retail buying is increasing
Revenue in Q1 of this year is projected to be $2.4B
One of the other interesting parts was what Coinbase listed as risks. They included:
The unmasking of Satoshi Nakamoto or the movement of his coins
Negative perception of Bitcoin or Ethereum
With early secondary market trading suggesting a valuation of between $77B and $100B, it’s going to be something to watch.
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Highly Relevant Reading
Arca is launching a bitcoin trust
Robinhood Crypto saw 6m new users already in 2021
NFT artist Beeple is setting multimillion dollar records at Christies auction
NFT marketplace Sorare raises $50M
Sovereign wealth funds are the final frontier
zerohedge @zerohedge*SOVEREGIN WEALTH FUNDS PROBABLY OWN BITCOIN, WEF'S WARREN SAYS
Boy that Fedwire outage was quite a thing
A Really Big Number We Should Be Paying Attention To
That’s the size of Anchorage’s latest round after getting US bank designation
I mean, it’s just one