The major cryptocurrency exchange and wallet platform Coinbase is about to launch its first Initial Public Offering. This news comes from Ran Neuner, the host of the ”Crypto Trader” segment on CNBC Africa, who recently tweeted the details of the deal.

More specifically, on October 25th Neuner tweeted that CNBC Cryptotrader would soon ”expose details of the Coinbase IPO raise”. He also shared two slides containing information on Coinbase’s account numbers and revenue.

If these slides are to be believed, Coinbase’s user base has now grown to a sizeable 25 million, with 600,000 users actively trading on the platform.

Furthermore, the slide detailed that Coinbase had $90 million in revenue last quarter. This is, however, down significantly from Q4 of 2017, when Coinbase reportedly saw $450 million in revenue.

This sizable decline in the amount of revenue is likely due to that the entire cryptocurrency market is down a comparable amount, compared to the levels seen during the bull rush in the last months of 2017.

Coinbase’s revenue sources are also reportedly divided between 80% stemming from ”consumers”, whilst the institutional service Coinbase Pro accounts for 15%, and the final 5% of revenue is listed as being ”other”.

On October 26th, more details were indeed revealed – at least if Neuner is to be believed. He covered the issue on CNBC Crypto Trader, and also posted a link on Twitter to the video in which Coinbase’s valuation was discussed.

According to Neuner, Coinbase is said to be raising an IPO of $500 million, at a total valuation in the range of $7.2 – $8 billion. Moreover, the IPO will supposedly consist of two separate rounds, which consist of both preferred equity and common stock.

In addition to this, ”sources close to Coinbase” are said to be expecting the IPO to outperform all market predictions. Nevertheless, several news outlets have fired back at Neuner, accusing him of creating baseless hype.

Coinbase has not confirmed the IPO, which lends some credence to the accusations that Neuner’s claims could be fabricated. Moreover, several commenters have suggested that Neuner’s claims may originate with the Recode piece from early October, which indicated an $8 billion valuation.

This is, however, not the first time it has been hinted that Coinbase might be eyeing a potential IPO. Coinbase’s president, Asia Hirji, raised the possibility of an IPO as early as 2017.

”It is certainly in the interest of our investors… and the most obvious path of Coinbase is to go public at some point, but there’s a lot for us to do between now and then, whenever that date is,” Hirji said at the time.

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