- Coinbase, a platform widely used to buy, sell, and store cryptocurrency, filed a confidential draft registration on Form S-1 with the SEC on Thursday, the first step toward an initial public offering.
- The news comes as Bitcoin hit a record high, bolstering other cryptocurrencies.
The major cryptocurrency platform Coinbase confidentially filed IPO paperwork to the Securities and Exchange Commission, the company announced Thursday, officially setting off the process to go public in the future.
The company has been preparing for an initial public offering since July, according to Reuters. Coinbase would be the first major US Cryptocurrency exchange to go public.
Coinbase was founded in 2012 by current CEO and board director Brian Armstrong and board director Fred Ehrsam.
The company has raised $525 million to date and was last valued at $8 billion, according