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Bloomberg Columnist Calls Coinbase IPO Risky

Bloomberg Columnist Calls Coinbase IPO Risky
  • Coinbase is planning to become a publicly-traded company
  • Jared Dillian calls Coinbase an “odd business with lots of risk”
  • Bloomberg columnist expressed his opinion and dissatisfaction about Coinbase

Coinbase Global Inc. plans to become a publicly-traded firm that values the largest U.S. digital-asset exchange at almost $100 billion.

Coinbase — A $100 Billion Crypto Cult

San Francisco’s popular digital asset exchange Coinbase Global Inc. is planning towards becoming a publicly-traded firm. Coinbase aims to achieve this milestone with almost $100 billion as a way of direct listing.

In line with Coinbase’s public decision, Bloomberg.com columnist Jared Dillian expressed his opinion and dissatisfaction about Coinbase. Dillian said that Coinbase is an “odd business with lots of risks.”

it’s an odd business with lots of risks.

In addition, Dillian said that Coinbase only serves as a gateway for retail investors in the crypto market. Aside from that, Dillian mentioned that Coinbase has a lot more service outages, nonexistent customer service, and excessive chargebacks when conducting transactions.

Consequently, if Coinbase officially becomes a publicly-traded company, it will sell shares directly to the public rather than using its traditional Initial Public Offering (IPO).

Furthermore, Coinbase will trade on the NASDAQ platform after it gets approval as a publicly-traded service. It will trade under the name “COIN”. Coinbase believes that becoming a publicly-traded firm can help it bolster its digital asset services to a wider audience.

Recently, Coinbase (CBSE) stock price began to rise ahead of the public offering. Moreover, the stock price rose despite key investors dumping CBSE stock.

Collins Adane is a writer who follows the crypto industry closely. He loves fish stew and Real Madrid. He believes in cryptocurrency’s potential to transform the money landscape in his native country Ghana.