Chatter is that the company's first ever investor day is a preview for a potential direct listing later this year. Its Series E valued the company at $8bn, and it would be first major US crypto startup to go public.
“If further financing is needed in the future, the company now has access to the public capital markets as a seasoned issuer, which is one of the primary benefits of being public anyway,” McGurk wrote. One person with knowledge of the upcoming meeting said a direct listing would make sense for Coinbase now, with many people in crypto anticipating an upward trajectory to the market soon. As newer companies like Compound and Kyber use innovative methods to extend ownership of their platforms to users, a direct listing would be the most cost-efficient way to provide Coinbase users with access to shares in the company, the source noted, while still adhering to its legal structure.