Public filings reveal that, as of January 6, Coinbase insiders had issued 703 sell orders worth a combined $5,796,792,858 since the company’s direct listing on the Nasdaq exchange last April.
The complaint argues that Coinbase gave investors a pre-listing illusion of fiscal strength even as it secretly knew that a “sizeable cash injection” would be required if the exchange was to handle the expected surge in new customers.
One of the most recognizable digital asset service providers still left standing from a bygone era in crypto, Coinbase was going public at the tail end of a historic run-up in digital assets prices almost across the board.
Coinbase ($COIN) will become a publicly-traded company via a direct listing on the Nasdaq stock exchange on April 14th.
Coinbase has announced that it will go public via a direct listing rather than going through the IPO process–find out why in this article.
Coinbase is expected to pursue its listing on a U.S. stock exchange as early as late 2020 or early 2021.
