The crypto world is increasingly interconnected with the traditional economy. And this makes sense, since most of the world’s large governments, companies and organizations have understood the importance of Bitcoin System and crypto currencies. They are beginning to see them as an opportunity. Allowing the integration of crypto companies into the traditional market, leading Changpeng Zhao to declare his support for Coinbase’s IPO in today’s Tweet:
Cardano’s ADA can be listed on Coinbase before the end of 2020
Changpeng Zhao supports Coinbase
For the crypto market, it is not news anymore to know that a company dedicated to the Blockchain technology will do an Initial Public Offering (IPO). Well, until now the companies of the crypto world have kept themselves separated from the rest of the market. Developing their own ecosystem, which is not usually integrated with the stock market or other financial markets.
However, now Coinbase, one of the most important companies in the crypto world, will break this trend. Announcing that it plans to launch its own IPO by the end of 2020 or early 2021. This would ensure the $8 billion exchange access to a new stream of resources to continue investing in its development.
But more important than the resources that Coinbase might receive, is what this IPO would represent for the crypto market. To become a reality, it would have to be approved by the Securities and Exchange Commission (SEC).
This would represent a step forward for cryptomonies to be taken into account by the US government. Paving the way for another crypto business as pointed out by Changpeng Zhao:
„I don’t normally comment on other exchanges. But I would like to congratulate Coinbase on the IPO plan. Pushing and paving the way for other crypto companies. And to answer the question. No, Binance is NOT planning an IPO. We plan to decentralize more.
Thus, Changpeng Zhao would make clear his support for Coinbase’s strategy. Not only because of the positive effects it could bring to Binance’s competing exchange. But above all, because it would serve to legitimize the crypto world and its companies in the face of the traditional financial market. Strengthening other crypto companies that plan to go public soon.