Coinbase Founder and CEO Brian Armstrong attends Consensus 2019 at the Hilton Midtown on May 15, 2019 in New York City.
  • Coinbase, a platform widely used to buy, sell, and store cryptocurrency, filed a confidential draft registration on Form S-1 with the SEC on Thursday, the first step towards an initial public offering.
  • The news comes as bitcoin hit a new all-time high, bolstering other cryptocurrencies.
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The major cryptocurrency platform Coinbase confidentially filed IPO paperwork to the Securities and Exchange Commission, the company announced Thursday, officially setting off the process to go public in the future.

The company has been preparing for an initial public offering since July, according to Reuters. Coinbase would be the first major US Cryptocurrency exchange to go public.

The news comes as bitcoin hit record highs, bolstering the price of other cryptocurrencies as well.

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