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Coinbase Picks Goldman Sachs to Lead Upcoming IPO: Report
Coinbase's selection comes per industry sources cited by Business Insider.
By Zack Voell
Updated Sep 14, 2021, 10:45 a.m. Published Dec 18, 2020, 5:12 p.m.
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Coinbase has tapped Goldman Sachs to lead its upcoming initial public offering, per a report by Business Insider that cited industry sources published Friday.
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- Coinbase announced Thursday it had filed preliminary documents with the U.S. Securities and Exchange Commission in preparation for a public offering.
- The cryptocurrency exchange picked Goldman despite the fact that some teams at the investment bank have offered less-than-bullish commentary on bitcoin, including a report in May that outlined why bitcoin and other cryptocurrencies are "not an asset class."
- Earlier this week, the firm also published a memo to clients saying that bitcoin poses no serious thread to gold's status as a last-resort monetary commodity.
- Nonetheless, Goldman has been active in the cryptocurrency industry from early on, including investments in Circle, Bitgo and other leading companies.
- Coinbase declined to comment on the report.
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