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12/18/2020, 9:56 PM (Source: TeleTrader)
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Coinbase hires Goldman Sachs to lead its IPO - report

Cryptocurrency exchange Coinbase Inc reportedly hired Goldman Sachs Group Inc to lead its upcoming initial public offering, Business Insider reported on Friday.

Coinbase and Goldman Sachs are connected through Fred Ehrsam, the exchange’s co-founder who previously worked at the bank as a trader. According to the sources, Ehrsam worked at Goldman between 2010 and 2012 before quitting to establish Coinbase with current CEO Brian Armstrong.

On Thursday, Coinbase has confidentially filed documentation with the United States Securities and Exchange Commission to go public.

Breaking the News / TF