Coinbase Choose Goldman Sachs To Spearhead Upcoming IPO

Coinbase choose Goldman Sachs to spearhead upcoming IPO. Coinbase tapped Goldman Sachs to lead its forthcoming initial public offering, according to a report published by Business Insider citing industry sources on Friday.

Coinbase announced Thursday it filed preliminary documents with the U.S. Securities and Exchange Commission in preparation for a public offering.

The cryptocurrency exchange selected Goldman despite the fact that some investment bank teams gave less-than-bullish bitcoin commentaries (BTC,-0.56 percent), including a May study detailing why bitcoin and other cryptocurrencies are “not an asset class.”

Earlier this week the company also released a memo to clients stating that bitcoin does not pose a significant thread to gold’s status as a last resort currency asset. However, Goldman has been involved in the cryptocurrency industry from an early stage, including investments in Circle, Bitgo and other leading companies.

[image: Coinbase Blog]