Ran Neuner, the host of the Crypto Trader show on CNBC Africa made a huge announcement, this time not on his show but on the equally public Twitter platform. Neuner claims via a tweet on Thursday, Oct. 25, that Coinbase, a major crypto exchange, and digital wallet will soon be announcing its first Initial Public Offering (IPO).
The Tweet further stated that other details regarding Coinbase’s IPO will be revealed on Friday, Oct. 26, live on the CNBC Crypto Trader show.
CNBC Cryptotrader exposes details of the Coinbase IPO raise tomorrow on a Cryptotrader exclusive. pic.twitter.com/YG4UOP3ju8
— Ran NeuNer (@cryptomanran) October 25, 2018
The tweet also shares statistics on Coinbase’s revenue and account numbers. As per the data revealed, the Coinbase’s user base has grown up to 25 million, 600,000 of which are active traders on the platform. Revealing the last quarter revenue to be $90 million, the tweet also states that Coinbase is expecting to earn $450 million in the last quarter of 2018.
Furthermore, it reveals that 80% of the revenue of the California-based crypto exchange comes from consumers, 15 % from the institutional accounts. The source of the remaining 5% wasn’t disclosed.
Asiff Hirji, Coinbase president hinted about an IPO in late 2017, he had said:
“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.”
In October, U.S. tech media Recode reported that Coinbase was in talks to finalize a deal that will increase the companies value to nearly $8 billion, the report cited two unnamed sources.