Trading platform eToro reportedly could go public in 2021. Sources told Cointelegraph that eToro has been working with the London Stock Exchange's "Elite" program to prepare for an initial public offering. "EToro does not comment on market rumours," an eToro representative told Cointelegraph. However, employees at eToro have shared an article from Israel-based media outlet Calcalist announcing the IPO on LinkedIn, apparently with the blessing of CEO Yoni Assia. EToro "is targeting an IPO in the second quarter of 2021 after doubling its revenue to $500 million and gaining five million new customers in 2020," says the Tuesday article from …

In some ways, the Coinbase exchange is the poster child for the crypto industry. It has embraced — not fought — regulation, which sets it apart from most cryptocurrency exchanges while the firm’s trading app is praised for its ease of use. When JPMorgan Chase decided to extend traditional banking services to crypto firms in the United States earlier this year — a precedent-setting move — it began with Coinbase and Gemini, another registered U.S. exchange. Therefore, last week’s report that Coinbase filed a draft registration for an initial public offering with the United States Securities and Exchange Commission wasn’t …

Every Friday, Law Decoded delivers analysis on the week’s critical stories in the realms of policy, regulation and law. Law Decoded will be going on a break next week for the holidays but will return in the new year. Editor’s note As the holidays loom, Bitcoin has been shattering all-time highs. For reasons why, consult Cointelegraph’s markets coverage. I honestly never know. Maybe with the act of Christmas shopping taking place behind the computer, people have turned to Coinbase instead of Amazon. Or maybe the threat of the Treasury demanding reports from exchanges interacting with self-hosted wallets has people trying …

Digital currency exchange Coinbase has reportedly approached Goldman Sachs to lead its upcoming initial public offering — a move that could bolster the appeal of cryptocurrencies to a broader mainstream audience. Citing two sources familiar with the matter, Business Insider reported Friday that Coinbase is looking to Goldman Sachs to handle its public filing. No additional details were provided. Coinbase has for years been linked to Goldman Sachs through Fred Ehrsam, the exchange’s co-founder who previously worked at the bank as a trader. Business Insider reports that Ehrsam worked at Goldman between 2010 and 2012 before quitting to establish Coinbase …

Following cryptocurrency exchange Coinbase filing a draft registration for a public offering with the United States Securities and Exchange Commission yesterday, research company Messari has valued the company at $28 billion. Messari’s model examined the company’s various business segments, such as trading, custody and debit cards, to come to this figure. Coinbase is one of the biggest exchanges worldwide, with daily trading volumes of over $1 billion. Assets under custody have grown to $20 billion from $7 billion in 2019. A previous fundraising round in August 2017 saw Coinbase’s valuation break the $1 billion mark, gaining it unicorn status. The …

One of crypto's most-anticipated initial public offerings is one step closer. On Thursday, Coinbase announced that the firm had sent its draft registration for a public offering to the Securities and Exchange Commission. The company wrote that: "The Form S-1 is expected to become effective after the SEC completes its review process, subject to market and other conditions." Per its last valuation, Coinbase was worth $8 billion, but that was in 2018. As it stands, the firm is one of the biggest names in crypto and has a reputation for working well with U.S. regulators, two factors that have long …

The world’s first Ether-based fund to be listed on a major stock exchange opened for trading on Thursday, but not without some hiccups. Listed on the Toronto Stock Exchange, The Ether Fund (TSX:QETH.U) opened for trading at $10.80 per share after completing a successful IPO in which $76.5 million was raised. Now available in brokerage and registered retirement accounts....... The Ether Fund (TSX:QETH.U) is the world's first regulated and major exchange-listed ETH fund https://t.co/L2U7JCutf3 pic.twitter.com/8PfgJgQcpK — 3iQ Corp (@3iq_corp) December 10, 2020 To the concern of interested traders, the fund was not available for trading upon the opening bell, officially …

FTX, a crypto derivatives exchange, has added Airbnb to its list of stock offerings on the eve of the online rental marketplace’s highly anticipated initial public offering. As of late Tuesday, cryptocurrency traders can gain exposure to Airbnb through a pre-IPO derivatives contract directly on FTX. As a pre-IPO product, the performance of the contract is linked to the market capitalization of Airbnb at the end of its first trading day. FTX says these derivatives contracts "will automatically roll over to Fractional Stocks contracts" at the end of Airbnb's first public trading day. The exchange adds: "If Airbnb stock does …

Galaxy Digital, a cryptocurrency merchant bank founded by Mike Novogratz, is expanding its crypto offerings in Canada. According to a Nov. 16 announcement, Galaxy Digital has partnered with major Canadian investment company CI Global Asset Management to launch a public Bitcoin (BTC) fund in the country. The CI Galaxy Bitcoin Fund is a “closed-end investment fund” that aims to provide unitholders with exposure to Bitcoin. The fund will invest directly in Bitcoin using the fund’s holdings of the token based on prices of the Bloomberg Galaxy Bitcoin Index, the announcement notes. As part of the new initiative, CI GAM has …

What would an initial public offering for Digital Currency Group, or DCG, look like? Analysts at digital analytics firm Messari believe they have the answer. In a newly published report, researcher Jack Purdy lays out a theoretical initial public offering for DCG. Using data from quarterly updates, along with other publicly available information and the average price-to-sales ratio for comparable fintech companies, Purdy concludes that DCG would be valued at more than $4 billion if it went public. That lofty valuation is based on a careful examination of DCG’s underlying businesses. While casual crypto observations may not realize it, DCG …

Global digital asset trading platform INX is expanding its ongoing initial public offering, with listings on exchanges worldwide. In a move to boost the liquidity in its $117 million IPO, INX has applied with the Canadian Securities Exchange to list its security token. The listing application is subject to the approval of the CSE, according to an Oct. 30 announcement from INX. According to INX’s representatives, the company expects to list the INX token on many other global exchanges, but the CSE will be the first. “This will provide dramatically higher access to capital and liquidity on a global scale, …

Australia’s crypto-friendly capital-raising platform Stax has announced its client West Coast Aquaculture Group, or WCA, will be conducting the country’s first initial public offering that accepts virtual currency as payment. Investors participating in WCA’s offering can purchase equity in the company using Tether (USDT) or Australian dollars. USDT was chosen over Bitcoin (BTC) and Ether (ETH) due to its price stability. Speaking to Cointelegraph, Stax CEO Kenny Lee emphasized that stablecoins offer the benefits of cryptocurrency without the volatility of other digital assets: “The acceptance of USDT in an IPO is a transformative move in Australia and a significant step …