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Coinbase will go public via direct listing

Cryptocurrency exchange Coinbase announced plans for a direct listing Thursday.

Coinbase had previously announced that it filed to go public in December. But the move to a direct listing is an interesting one. The companies that have done direct listings such as Spotify and Slack have generally banked on a large consumer audience to support the shares on public markets. Coinbase has raised about $525 million in venture funding, per PitchBook.

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