Coinbase appears to have broken the seal when it comes to taking a private cryptocurrency exchange public.
For some background info, typically the sentiment in the cryptocurrency world is that the less regulation the better. Crypto-truists think the less information collected about themselves when trading crypto the better. Things like “Know Your Customer” and tax reporting seem to go against those libertarian -esq values.
Going public will surely lead to more regulations as companies financials and tax reporting will be on display and audited with more scrutiny.
We see the both sides of the argument, but can’t personally see how going public could possibly be a value-add for the end user like us. (Womp Womp)
First Coinbase, now Kraken and it was recently reported that the Wiklevoss twins may be eying a public listing for their crypto exchange, Gemini. By the end of next year ever major exchange may be cashing in on the IPO craze. (Starting to feel like the tech bubble all over again, eh?). You don’t put that evil on crypto, Ricky Bobby!