The US cryptocurrency exchange Coinbase mentioned Satoshi Nakamoto, the founder of Bitcoin, in a recent filing with the US Securities and Exchange Commission (SEC) for listing directly on the stock market.
According to SEC documents, Coinbase sent a copy of the S-1 registration statement to members of the legal team of Coinbase Global and the California law firm Fenwick & West-if approved, Coinbase’s stock will be closer to listing and trading on the American stock exchange. In addition, Coinbase Exchange also listed Satoshi Nakamoto and the addresses of the Bitcoin genesis block as recipients of copies of SEC documents.
The document mentions the legendary Bitcoin founder and the author of the Bitcoin white paper four times. The S-1 report also described the possible identity of Satoshi Nakamoto and the transfer of bitcoins held by him. These events may cause the prices of bitcoin and Ethereum to fall.
An investigation of the earliest block of Bitcoin showed that Satoshi Nakamoto mined at least 1.1 million BTC, which is currently worth about 55 billion U.S. dollars. The signs that the transfer of these bitcoins may disrupt the cryptocurrency market are not without precedent. After the 2017 bull market, some of the earliest bitcoins mined in 2010 and 2011 will be transferred from time to time, causing price fluctuations. However, there is insufficient evidence that these events have had a lasting impact on the price of Bitcoin.
Coinbase first announced in December 2020 that it will submit an application to the SEC for an initial public offering. According to documents submitted on Thursday, Coinbase’s direct revenue in 2020 was US$1.1 billion, which was higher than the US$482 million in 2019. Although Coinbase was valued at 8 billion U.S. dollars in 2018, recent reports estimate that the current listing valuation of the Coinbase exchange may exceed 100 billion U.S. dollars.
Author/ Translator: Jamie Kim
Bio: Jamie Kim is a technology journalist. Raised in Hong Kong and always vocal at heart. She aims to share her expertise with the readers at blockreview.net. Kim is a Bitcoin maximalist who believes with unwavering conviction that Bitcoin is the only cryptocurrency – in fact, currency – worth caring about.