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Coinbase has filed an S-1 registration statement with the US SEC, intending to apply for an IPO

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The S-1 is the initial registration form for new securities required by the SEC for U.S. public companies.

Rhythm BlockBeats news, on December 18, Coinbase issued a document announcing that Coinbase Global, Inc. has secretly submitted a draft S-1 registration statement to the US Securities and Exchange Commission (SEC). The Form S-1 is expected to become effective after the SEC completes its review process, subject to market and other conditions.

Coinbase stated that this announcement does not constitute a solicitation of an offer to sell or buy any securities. Any offer, solicitation or offer to buy or sell securities will be made pursuant to the registration requirements of the Securities Act of 1933, as amended (the "Securities Act"). The announcement is made in accordance with Article 135 of the Securities Law.

Coinbase was last valued at about $8 billion. The company is the largest cryptocurrency exchange in the United States by trading volume and one of the largest in the world. Founded in 2012, Coinbase has more than 35 million users.

Rhythm Note: SEC Form S-1 is the initial registration form for new securities required by the SEC for U.S. public companies. Any qualifying security must have an S-1 filed before the stock can be listed on a U.S. national exchange, such as the New York Stock Exchange. Companies typically file SEC Form S-1 in anticipation of an initial public offering (IPO). The Form S-1 requires the company to provide information about the planned use of capital gains, detailing the current business model and competition, and to provide a brief description of the proposed securities themselves, providing the pricing methodology and any dilution that would occur with other listed securities.