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Coinbase to be Directly Listed on NASDAQ on April 14, Following SEC’s Approval

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Coinbase to be Directly Listed on NASDAQ on April 14, Following SEC's Approval

It’s been over two months since the US-based cryptocurrency exchange, Coinbase, unveiled its intent to become the first major direct crypto exchange to be listed on the Nasdaq stock exchange market.

The planned event saw anticipations springing forth among the public as the initial date that was set to happen in March was reportedly pushed back to April.

Meanwhile, it appears that the wait is almost over as Coinbase announced in a recent blog post that its registration statement filed with SEC has finally been declared effective.

Moreso, it announced that the anticipated listing date of its Class A Common Stock on the Nasdaq Global Select Market has been confirmed for April 14, 2021.

The tweeted announcement reads;

“We’re happy to announce that earlier today, the SEC declared our S-1 registration statement effective and that we expect our direct listing to occur on April 14, 2021, with our Class A common stock trading on the @NASDAQ under the ticker symbol COIN.”

The proposed listing has been under review by the SEC, thus suggested to be the reason for the delay.  

Therefore, Coinbase’s Class A common stock will begin trading on NASDAQ, an American multinational financial services corporation, on April 14 with the ticker symbol “COIN”.

A Big Win For The Crypto Ecosystem

As planned by Coinbase, the direct listing will be the first major listing to take place on Nasdaq Inc.

The event is undeniably a big win for the crypto ecosystem as it suggests irrefutable progress for cryptocurrencies to reach wide adoption all around the globe.

Cryptocurrency

Binance CEO Closing The Wealth Distance Between Him And Mark Zuckerberg – Makes Bloomberg’s Billionaires Index

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Binance CEO Closing The Wealth Distance Between Him And Mark Zuckerberg - Makes Bloomberg's Billionaires Index
  • Bloomberg’s billionaire index has put Changpeng Zhao’s fortune at nearly $100 billion.
  • The Binance CEO has stated in the past that he will most likely give away all of his wealth.
  • Despite his financial fortunes, Changpeng Zhao faces a stern test from regulators around the world.

The rich list released by Bloomberg puts CZ as he is fondly called as the 11th richest man alive. His net worth by far outstrips the conservative figures given by Forbes last year.

Almost 100 Billion Dollars

Cryptocurrencies have earned a reputation for giving investors incredible returns on their investments and one of the major players in the ecosystem is already reaping the rewards. A recent Bloomberg rich list claims that Binance’s founder and CEO, Changpeng Zhao is worth $96 billion.

The rationale behind this valuation is that Zhao owns a majority stake in the largest cryptocurrency exchange in the world, Binance. According to data gleaned from trading volumes and fees, Binance recorded around $20 billion in revenue which is nearly 3 times the revenue of Coinbase. An interesting fact about the rating is that it does not take into account his crypto holdings. Zhao is said to hold a large cache of BNB that has since soared by over 1000%

“Don’t worry about rankings. Focus on how many people you can help,” he tweeted a few hours after the Bloomberg report went live. “Unpopular opinion: instead of wealth rankings, there should be a ranking of charity and philanthropy efforts.”

The CEO has previously stated that he intends to donate more than 90% of his fortune to charity over the course of his life like other wealthy entrepreneurs that had come before him. He claimed in an Associated Press interview that he personally did not require a lot of money to maintain the current standard of his life. However, in a money move, reports emerged that CZ had purchased a multi-million dollar home in Dubai in November 2021.

Binance and its CEO donated $150,000 for the building of an ultramodern school in Uganda and also pledged to raise $1 million AUD for the planting of 100,000 trees in commemoration of Earth Day. Other charitable moves include the financial donation to healthcare workers in Mexico and a 1 million donation to UNICEF to support COVID-19 Vaccination equality.

Where He Seats On The Rankings

A net worth of $96 billion places Changpeng Zhao over India’s Mukesh Ambani and below Larry Elison. However, if his cryptocurrency holdings are taken into account, Zhao could easily rub shoulders with other tech billionaires like Mark Zuckerberg and Larry Page that have net worths of $122 billion and $123 billion respectively.

Binance has been embroiled in regulatory battles with the authorities in various jurisdictions, leading to fines and bans. The exchange has taken steps to be on the good books of regulators and is hiring ex-regulators to help in its compliance drive. It is expected that after achieving regulatory passes in its troubled jurisdiction, Changpeng Zhao’s net worth could outstrip Mark Zuckerberg’s.

The founder of FTX, Sam Bankman-Fried was named the richest 29 year old by Forbes last year with a fortune of $26.5 billion. Other cryptocurrency billionaires include Brian Armstrong, CEO of Coinbase, and the Winklevoss Twins, founders of crypto exchange Gemini.

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AMC Theatres to Start Accepting Ethereum, Litecoin, And Bitcoin Cash In Addition To Bitcoin By Year-End

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AMC Theatres to Start Accepting Ethereum, Litecoin, And Bitcoin Cash In Addition To Bitcoin By Year-End

The world’s leading movie theatre chain will be accepting Litecoin, Ethereum, and Bitcoin Cash in addition to Bitcoin as payments for confectionaries and movie tickets at all its U.S. outlets before December 31.

This is according to a Twitter announcement made by the Company’s C.E.O Adam Aron on Thursday morning sending out a wave of bullish sentiments on the three cryptocurrencies by crypto enthusiasts.

“Cryptocurrency enthusiasts: you likely know AMCTheatres has announced we will accept Bitcoin for online ticket and concession payments by year-end 2021. I can confirm today that when we do so, we also expect that we similarly will accept Ethereum, Litecoin and Bitcoin Cash.” 

Last month, the C.E.O in an early morning earnings call had disclosed that AMC was actively engaged in setting up payment systems that would allow movie enthusiasts to pay for various services and purchases using Bitcoin. He had also acknowledged receiving a lot of inquiries from users and shareholders on the possibility of the company accepting payments in crypto which could have largely informed Thursday’s announcement.

Although Litecoin foundation did not respond to the statement in writing, Litecoin’s news page and Charlie Lee, the founder of Litecoin retweeted AMCs announcement gesturing their affirmation.

Broadening the crypto payments net

Litecoin has been making inroads in institutional halls thanks to its long-term persistence and reliability. Its completed MWEB upgrade project which allows the network to become much more scalable and make transaction amounts un-viewable to the public makes Litecoin the ideal choice for payments while protecting users’ data.

According to the Litecoin Foundations Q1 report, various companies have already announced that they’re integrating Litecoin including Paypal, Vaultoro, Flare Network, Moon among others. Its successful payment integrations have also attracted a fair share of challenges with a recent false report that Walmart was integrating Litecoin in its payment network.

Bitcoin cash which fulfills the original promise of Bitcoin as “Peer-to-peer electronic cash” could also see mass use given its fast transactions, low fees, and reliable confirmation. It also allows use on a large list of wallets including Ledger and Trezor among others, which are synonymous with most U.S. crypto owners. Its discounts on payments due to the elimination of credit cards are likely to attract most AMC movie enthusiasts looking to pay using this method.

On the other hand, Ethereum payments to the company could be fulfilled through Ethereum-Pay,  a decentralized ERC-1363 payable token built on the secure Ethereum network specifically tailored to be integrated with E-commerce transactions. 

EthereumPay creates a universal payment platform that allows merchants & users around the world to do business with each other instantly and cheaper than ever. Ethereum payments are accepted by companies including Sotheby, Overstock, Gipsybee,  Shopify CheapAir, Tripio among others.

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