Coinbase Officially Sets April 14 as Date for Its Nasdaq Listing

2 April 2021 | Updated: 2 April 2021

The largest cryptocurrency exchange in the United States, Coinbase, has just announced that the date for its long-awaited direct listing on the stock market has been fixed. Following approval from the US Securities and Exchange Commission, the exchange reported that it would get listed on the Nasdaq on April 14.

According to a blog post published on April 1, Coinbase noted that its Class A common stock would get directly listed on the Nasdaq Global Select Market in twelve days from today, under the ticker symbol “COIN.”

Before the recent development, the behemoth exchange planned to go public in March but decided to hold off on the listing until April, likely because of its previous regulatory crisis with the CFTC.

The Commodity Futures Trading Commission (CFTC) recently accused Coinbase of carrying out illegal wash trading practices for three years. However, shortly afterward, the exchange agreed to settle the $6.5 million fine imposed by the regulatory body.

Should the listing go according to plan, Coinbase would become the first cryptocurrency exchange to get listed on the Nasdaq, which would mark a significant milestone for the entire cryptocurrency industry.

Pivot from IPO to Public Listing
Initially, the US-based cryptocurrency exchange announced in December 2020 that it would go public via an initial public offering (IPO). However, Coinbase changed its plans and opted for a direct listing instead.

In its recent statement, Coinbase noted that:

“This announcement does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.”

Meanwhile, congratulatory messages have started to roll in from prominent industry players. Shortly after the announcement, MicroStrategy CEO Michael Saylor stated that:

“Congratulations to the entire team at Coinbase. This listing will accelerate institutional adoption of bitcoin and catalyze a host of complimentary industry initiatives.”

 

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Coinbase Announces Expansion to India Despite Regulatory Uncertainty in the Country

30 March 2021 | Updated: 30 March 2021

World-renowned cryptocurrency exchange operator, Coinbase, has recently announced that it will be expanding its operations into India. The company also announced several job openings for its Indian expansion despite indications that the government plans on banning cryptocurrency use.

Coinbase noted in its official announcement that:

“We’re happy to announce that Coinbase is establishing a business presence in India. By housing some IT services, including engineering, software development, and customer support operations in India, we will benefit from its huge pool of world-class engineering talent.”

The announcement added that:

“India has long been known as a hub for engineering and technology innovation, and we look forward to finding that world-class talent to help the Coinbase group develop new ways for our customers to interact with the crypto economy,” the announcement continues.”

Coinbase also stated that it “expects to open a physical office, initially in Hyderabad, for Indian employees as Covid-related conditions allow.”

Meanwhile, the company also posted several job openings on Linkedin, including 15 postings for open job positions in India. Aside from that, Coinbase has announced job openings for other countries, including the US, the UK, Japan, Singapore, Canada, and the Philippines. Furthermore, the company has invested in a local cryptocurrency exchange in India.

In other news, Coinbase is preparing to get publicly listed on the Nasdaq via an initial public offering (IPO). However, this IPO has gotten placed on hold following a $6.5 million fine from the US Commodity Futures Trading Commission (CFTC).

Cryptocurrency Ban in India
Coinbase’s decision to expand its operations into India comes amid a shaky future for cryptocurrencies in the country, as the government has recently announced its plans to ban cryptocurrency use in the country.

Already, a cryptocurrency bill was supposed to get introduced during the Budget session of the Indian parliament. However, the session has ended without the bill getting introduced.

Indian finance minister Nirmala Sitharaman.

The Indian Financial Minister, Nirmala Sitharaman, the cryptocurrency bill is still undergoing finishing touches and will get introduced once completed. However, she asserted that the government would not issue a total ban across the country but would take a “calibrated approach to cryptocurrency legislation.”

 

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Bitcoin SV Takes Center Stage at Dubai Investment Summit

22 March 2021 | Updated: 22 March 2021

The original Bitcoin takes center stage at Sir Anthony Ritossa’s 13th Global Family Office Investment Summit in Dubai as Jimmy Nguyen, founding president of Bitcoin Association, gave a keynote presentation and hosted a panel discussion and other Bitcoin SV proponents and clients presented testaments as to how it can be used in various business platforms.



Bitcoin SV’s presence at this prestigious event attended by Royal Families, Sheikhs, prominent family offices, private investors and market leaders from more than 30 countries just shows how far its native token and blockchain technology have come in just two years.

After successfully restoring the original Bitcoin protocol, unlocking unbounded scalability of its blockchain, enhancing its security system and promoting a regulation-friendly mindset in February 2020 through the Genesis Upgrade, Bitcoin SV is now ready for global adoption.



“Bitcoin SV is the only Bitcoin project and blockchain that best understands and realizes what Bitcoin was created to be. Bit-data and coin-money, together. Bitcoin is really the fusion of data and money. We deliver on the promise of what Bitcoin was always meant to be,” Nguyen stated.

Of course, this statement does not come without proof of the benefits of blockchain technology. EHR Data Chief Scientist Ron Austring presented their current project of creating a global healthcare database, which will provide stakeholders real-time access to the same data to fight the opioid crisis. Veridat founder Philip Runyan also spoke about using the Bitcoin SV blockchain to ensure integrity and hygiene of clinical research data.

Imagine if systems like these are in place now, delays in giving the public updates on the coronavirus pandemic will be minimized because crucial healthcare information can be easily accessible. Physicians do not have to rely too much on patients’ memories when asking about patient history because they already have it in their hands. Transparency regarding the COVID-19 vaccine will be available to the public and help reduce confusion and increase confidence.

With limitless potential in use cases, which is not limited to the healthcare industry, the Bitcoin SV blockchain is more than ready for various applications to be developed and built on it. This is why Ritossa believes the original Bitcoin will serve to benefit Dubai’s leading industries.
Sir Anthony Ritossa and Jimmy Nguyen

“This event’s core value is uniting together to build a better world. And this marries up perfectly with the driving ambition of Bitcoin SV, to make the world better with data. We’re in the perfect place for combining these two missions, with the UAE perfectly primed to take blockchain to the next level,” Ritossa said during a CoinGeek interview.

After this year-end Dubai summit, the original Bitcoin heads to Zurich, the financial capital of Switzerland, for its first conference of 2021.

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Technical Analysis: ZAP Surges to $0.3098, Chainlink Uninspired to $32 Amid Ethereum’s Lack of Momentum to $2,000

15 March 2021 | Updated: 15 March 2021

ZAPUSD Price Analysis
ZAP price stole the crypto spotlight after rising to a new all-time high of $0.3853 suggesting that it is enjoying stability in the market. Meanwhile, price action has not been progressive above $0.30, which continues to delay the uptrend to new all-time highs above $0.35. However, ZAP seems to have stalled roughly above $0.3 during today’s session, thus delaying the uptrend.

The natural tendency of this formation is to yield a downside break. Therefore, the sellers return to take control, although they need to find a strong foothold below the moving average 13 now at $28.20.

ETHUSD Price Analysis
Ethereum has remained bullish in the long-term despite the recent sell-off to $1200. The digital asset is currently trading at $1.822 after a significant rebound from key horizontal support formed on the daily chart.

ETHUSD price defended a key support trendline and bounced from $1660 to $1859. Additionally, bulls have also managed to push ETH above the moving average 13 support level which has been a strong point since Dec. 31, 2020. Acceptance under the moving average of 13 could trigger a sharp sell-off towards the $1350 mark, where the pattern target coincides.
The Relative Strength Index (RSI) is ranging, above the midline, suggesting that there is a scope for additional consolidation.

LINKUSD Price Analysis
Chainlink consolidates recent gains around $30, declining for the first time in three days, during late Tuesday. In doing so, the altcoin takes a U-turn from the two weeks’ highest level, also declining before the key $33 resistance area.

Now, LINK faces a blockade at $33 that could prevent its market value from appreciating. Hence, a pullback towards the immediate demand levels seems likely as this would provide the bulls a respite needed to continue their ascent. If bears want to come back, they will need to push ChainLink below the key support level at $27.50. A breakdown below this point should drive LINK towards the psychological level of $21.

Conclusion
ZAP is finding life just below $0.30 a lot harder than it appeared it would. While I still have little doubt it will break through this psychological barrier and probably explosively so, it seems we may be made to wait a little longer for it. Volatility has very much returned and even during this consolidation period of recent weeks, there’s been some serious whipsaw action.

A constant reminder of how wild a ride these cryptocurrencies are. I don’t think we’ll have to wait long for another reminder of the scale of moves they can produce in very little time, with that move looking more likely to come above $0.30 than below $0.25. The latter would arguably be more interesting but much less likely at the moment.

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Coinbase Files to List Its Class A Common Stock on the Nasdaq

25 February 2021 | Updated: 25 February 2021

US-based cryptocurrency exchange Coinbase announced that it has officially filed a registration statement on Form S-1 with the SEC to become a publicly-listed entity on the Nasdaq exchange. The company confidentially submitted a draft registration statement to the Securities and Exchange Commission (SEC) last year to be listed on the exchange.

Coinbase chose to go public via a direct listing instead of an IPO. Estimates suggest that the potential valuation of the company is pegged around $28 billion.

The largest exchange in the US broke the news to the public earlier today, noting that the registration was “relating to a proposed public direct listing of its Class A common stock.”

Coinbase will list its Class A common stock on the Nasdaq Global Select Market under the ticker symbol “COIN.”

However, although the registration statement has gotten filed, it is yet to come into effect. The company explained that: “These securities may not be sold, nor may offer to buy be accepted, before the time the registration statement becomes effective.”

Coinbase Records Significant Revenue Spike
Meanwhile, Coinbase highlighted that its filing doesn’t “constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful before registration or qualification under the securities laws of any such state or jurisdiction.”

In other news, the cryptocurrency exchange revealed that its net revenue saw a significant spike in 2020 compared to 2019—$1.1 billion against $483 million. The company’s expenses also increased from $580 million in 2019 to about $870 million in 2020.

 

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