Report: Cryptocurrency exchange Coinbase is exploring an initial public offering – SiliconANGLE BitTorrent & µTorrent Now Accept BUSD, Announce 25% off Crypto-based Purchases of Pro Professor Richard Holden thinks exploring distributed ledger technology for voting in US elections could put voter fraud lawsuits to bed. Source link eToro reported the most popular cryptocurrencies in June on its platform. The ranking is still dominated by Bitcoin, followed by ETH and XRP.
Cryptocurrency exchange Coinbase Inc. has started preparing for an initial public offering later this year or early next year, according to a report today from Reuters.
Quoting three people familiar with the matter, Reuters claims that the plans are still subject to change and that the company has not yet registered with the U.S. Securities and Exchange Commission. Coinbase reportedly has held preliminary talks with investment banks and law firms for its potential float.
Exactly what form Coinbase going public may take is subject to speculation. The bank talks suggest the company is considering a traditional public offering, but that does not necessarily rule out a direct listing at this stage and the Reuters report notes that Coinbase is looking at that option.
Direct listings, while still a niche way to go public, have slowly grown in popularity among mature tech startups looking to avoid the costs involved in a traditional IPO. Palantir Inc. is reported to be taking that option later this year, following in the footsteps of Spotify Technology SA and Slack Technologies Inc.
The market capitalization of Coinbase as of its public offering is also uncertain. As of its last venture capital round in 2018, Coinbase was valued at $8 billion but since that time it has kept growing both organically and through acquisitions.
Coinbase, as the largest U.S. registered cryptocurrency exchange, has been voracious in acquiring smaller startups, including blockchain tracking startup Neutrino srl in February 2019, bitcoin custody provider Xapo Inc. in August and the Peter Thiel-backed cryptocurrency brokerage startup Tagomi Systems Inc. in May.
Should Coinbase pursue an IPO, it will be the first U.S. cryptocurrency exchange to go public on a major market. The company’s main challenge may be the U.S. Securities and Exchange Commission. Although seemingly more generous toward cryptocurrency companies and offerings of late — the approval of Arca’s U.S. Treasury Fund July 6 as a case in point — the SEC is still strict when it comes to anything related to cryptocurrencies.
Coming into its potential IPO, Coinbase has raised $547.3 million in venture capital, according to Crunchbase. Investors include Tiger Global Management, Y Combinator Continuity, Wellington Management, Andreessen Horowitz, PolychainSection 32, Balyasny Asset Management, Draper Associates, Battery Ventures, Greylock Partners, Tusk Ventures, Spark Capital, Bank Of Tokyo, USAA, DFJ, BlockChain Capital and the New York Stock Exchange.
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DLT Voting Would Likely Benefit Democrats: UNSW Professor
Home / Uncategorized / DLT Voting Would Likely Benefit Democrats: UNSW Professor
Professor Richard Holden thinks exploring distributed ledger technology for voting in US elections could put voter fraud lawsuits to bed.
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Bitcoin and the most popular cryptocurrencies of June
eToro reported the most popular cryptocurrencies in June on its platform.
The ranking is still dominated by Bitcoin, followed by ETH and XRP. In other words, the top three cryptocurrencies by market capitalization on eToro are also the three most popular on the platform.
It should be noted that USDT has not been taken into account, despite having a higher market capitalization than XRP, because it is not considered a real cryptocurrency, but a stablecoin token representing a fiat currency.
Alongside the first three, in June retail investors of the well-known platform showed particular interest in Proof-of-Stake-based cryptocurrencies.
One of the most popular was ADA (Cardano), which increased by 11% in June, compared to May, due in particular to the Shelley upgrade. Retail investors are looking to buy the asset before it moves from the current centralized network to a distributed one.
Tezos was also able to attract a lot of attention, so much so that in June it was ranked fifth. During 2019 it was only sixteenth, so in the first half of 2020, it made a big leap forward.
NEO and TRON were also back in the top ten.
Here is the top 10 ranking:
As far as Bitcoin is concerned, after the recent halving retail investors are expecting a bullish phase, and overall they are trying to hold their positions, in light of a general price consolidation throughout the industry.
This has significantly reduced volumes, significantly lower in June compared to the hectic activity in May, the month in which the halving took place.
eToro’s market analyst and cryptocurrency expert, Simon Peters, commented:
“Bitcoin unsurprisingly retains its top spot as the most popular cryptoasset on the platform globally in June. Having undergone its third ever block reward halving in May, investors clearly remain interested in holding on to the cryptoasset, perhaps in preparation for an ensuing bull run, as has occurred following the previous two halvings.
In altcoins, we are seeing a clear trend from investors towards blockchains that have proof of stake mechanisms. We’ve seen positive price performance of such coins, including ADA, which has risen from $0.0332 at the turn of the year to $0.1139 at the time of writing, constituting a 245% increase year to date.
Recent months have seen investors look to cryptoassets such as bitcoin as long term investment opportunities, given widespread fiscal stimulus and performance that has dwarfed most traditional equity markets. We expect to see this trend gather steam as coins such as ADA and Ethereum, of which the latter is undergoing its own raft of technical improvements, join bitcoin as assets at the forefront of investors’ minds”.
Author: By Marco Cavicchioli
– 9 Jul 2020