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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.
Tomio Geron ( @tomiogeron) is a San Francisco-based reporter covering fintech. He was previously a reporter and editor at The Wall Street Journal, covering venture capital and startups. Before that, he worked as a staff writer at Forbes, covering social media and venture capital, and also edited the Midas List of top tech investors. He has also worked at newspapers covering crime, courts, health and other topics. He can be reached at email@example.com or firstname.lastname@example.org.