"Coinbase Announces Update Regarding Conversion of Shares of Class B Common Stock to Shares of Class A Common Stock" April 13, 2021 03:11 PM Eastern Daylight Time https://www.businesswire.com/news/h...ommon-Stock-to-Shares-of-Class-A-Common-Stock **** "Coinbase Announces Update Regarding Conversion of Shares of Class B Common Stock to Shares of Class A Common Stock" https://www.sec.gov/Archives/edgar/...2828021006825/coinbaseglobalincfwp4132021.htm Remote-First-Company/PORTLAND--(BUSINESS WIRE)-- Coinbase Global, Inc. (“Coinbase”), today announced that, as of April 12, 2021, there are 130.7 million shares of Class A common stock (“Class A common stock”) outstanding and 68.5 million shares of Class B common stock (“Class B common stock” and together with the Class A common stock, “Common Stock”) outstanding. Coinbase also announced that, as of April 12, 2021, Coinbase had a fully diluted capitalization of 261.3 million shares of Common Stock. This fully diluted capitalization share count includes the shares of Common Stock outstanding and all outstanding stock options and restricted stock units but does not include shares of Common Stock reserved for future issuance under Coinbase’s equity compensation plans or its Pledge 1% commitment. **** https://seekingalpha.com/news/36815...me-2613m-shares-outstanding-at-wednesdays-ipo Cryptocurrency exchange Coinbase Global (COIN) disclosed Tuesday afternoon that it will have some 261.3M shares outstanding when it goes public via an eagerly awaited direct listing on Wednesday.
It looks like FTX has terminated the CBSE contract (based on market cap) and now introduced a COIN contract (based on share price). https://ftx.com/trade/COIN/USD https://help.ftx.com/hc/en-us/articles/360059810131 Convert CBSE balances into COIN balances: each unit of CBSE will be converted into 1.0452 COIN .
As I said in another post, someone at FTX probably said in a morning meeting 'hey, let's issue a grey market token on the pre-IPP price on COIN'. The boss probably said, great idea, get to work. And then a few hours later it was listen and clients were trading. Who on Wall Street can operate that fast? To highlight this point, there was a post here yesterday about the CME mini Bitcoin futures and the quote was something like - The CME will be listing mini BTC futures on May 3rd subject to regulatory approval.... If I was a top Wall Street CEO, I wouldn't be sleeping well at the moment because all I'd see is massively capitalised and massively profitable monsters (the crypto exchanges) coming over horizon. And the great Su Zhu called it several months ago when he said I used to think legacy finance was coming for crypto but now I see crypto coming for legacy...
If the Fed can print trillions and trillions per year, I don't see why these pieces of paper can be any worse....specially if a lot of young FANBOYS are chasing... I just use very tight mental stops and sell every good pop. Thinking too hard about it will cause unneeded grief. These days I really think there is money to be made buying stocks that HEDGE FUNDS HATE. The hedge funds are making it personal and that's when I like to pounce. When I see emotions on the other side. Also, in order for an American to get a coinbase account one has to show passport number and copies of exit stamps within the last five years Drivers, Social, Birth date, many passport photos, prior address history history for 10 years, mothers maiden, fathers religion, kids names and birth dates. They will usually fain losing some of this and ask for it twice. Coinbase is the exchange that most often has unexplained delays and outages in order to keep crypto sellers at bay. They also can close your account for many many reasons without explanation keeping your funds and crypto. If you forget your password or your pin..you are totally screwed. So, they got the money and the info. This makes them both Ameritrade and Facebook together. Bullish theory in place I guess? The data mining here will be epic regarding the younger generations.
IB can prob fill a buy order for coin if you are still interested. Good chance to practice catch-a-falling-knife routine. https://elitetrader.com/et/threads/...e-absolutely-wrong.357918/page-8#post-5372902
IPO date : 14 Apr 21 - long red candlestick, ie bearish outlook down it goes again. Is it going to zero?
Coinbase announced that it is increasing the size of its debt offering to roughly 2 billion USD from the previously announced 1.5 billion USD, because of stronger then expected market interest. Such mixed news from them lately.