Global blockchain supervision and query platform

English
Download

Coinbase sent SEC filing to Satoshi in a symbolic gesture

 Coinbase sent SEC filing to Satoshi in a symbolic gesture  WikiBit 2021-02-26 06:02

The largest cryptocurrency exchange is going public, but not without paying tribute to the author of the Bitcoin white paper and to the genesis block.

Turner Wright

2 hours ago

Coinbase sent SEC filing to Satoshi in a symbolic gesture

However, the exchange also claimed the identification of the Bitcoin creator could cause the crypto market to deteriorate.

10361 Total views

16 Total shares

Listen to article

0:00

News

United States-based cryptocurrency exchange Coinbase named Bitcoin creator Satoshi Nakamoto in its recent filing with the Securities and Exchange Commission for a direct listing on the stock market.

According to the SEC filing, Coinbase sent copies of its S-1 registration statement — which, if approved, would bring the company closer to having its shares traded on U.S. stock exchanges — to legal team members at Coinbase Global and California law firm Fenwick & West. In addition, the exchange listed Satoshi Nakamoto and the Bitcoin (BTC) genesis block address as recipients of a copy of the SEC filing.

The legendary Bitcoin creator was mentioned four times in the filing, including as the author of the Bitcoin white paper. The S-1 report also describes the possible identification of Satoshi and the transfer of his BTC holdings as events that could cause the price of Bitcoin and Ether (ETH) to deteriorate.

An investigation of Bitcoin‘s earliest blocks suggests Satoshi mined at least 1.1 million BTC — worth roughly $55 billion today. The suggestion that moving these coins could disrupt the crypto market is not without precedent. Small amounts of some of the earliest mined BTC from 2010 and 2011 have been moved from time to time following the 2017 bull run, leading to fluctuations in price. However, there isn’t enough evidence to suggest that these events had a lasting effect on the price of Bitcoin.

Coinbase first announced in December 2020 that it would be filing with the SEC to pursue an initial public offering. Thursday‘s filing shows that the exchange posted a direct revenue of $1.1 billion in 2020, an increase from $482 million in 2019. Though Coinbase’s last valuation in 2018 showed it was worth $8 billion, recent reports estimate that the exchange may now go public at more than $100 billion.

  • #Coinbase
  • #Satoshi Nakamoto
  • #Business
  • #Cryptocurrency Exchange
  • #IPO

Related News

  • As NFT space flourishes, CryptoBonds are gaining momentum

  • Tokenization of assets is not taking off, but it really should

  • Black Americans are changing the face of crypto and blockchain through education

  • Coinbase unveils plans for direct stock listing

  • Coinbase comes back online following issues

  • Coinbase IPO a ‘watershed moment’ for crypto regulation: Caitlin Long

Loading

Editors Choice

  • Coinbase sent SEC filing to Satoshi in a symbolic gesture
  • Gemini collaborates with The Giving Block and others, adds donations option
  • Coinbase public listing filing details 2020 revenue, major a16z stake
  • What Russian journalists can learn from Navalny's Bitcoin wallet
  • People who bought Bitcoin in 2017 becoming the strongest HODLers, new data shows

Advertise with us

Disclaimer:

The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.

  • Token conversion
  • Exchange rate conversion
  • Calculation for foreign exchange purchasing
/
PC(S)
Current Rate
Available

0.00