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A Japanese cryptocurrency exchange called Coincheck said it wants to sell shares to the public in the US through the Nasdaq. The company can use the profitable U.S. financial markets if this plan works. The Nasdaq is one of the world’s largest stock exchanges in terms of both the number of trades and the total market capitalization.
Coincheck planned to go public in March of this year, Cointelegraph was told. At the time, it was said that if the company joined with Thunder Bridge Capital, it would be worth about $1.25 billion.
According to Coincheck’s financial data, the company has 1.75 million verified accounts, which gives it a 27% share of the Japanese cryptocurrency trading market. But the company did less business because the cryptocurrency market was so wrong. Operations brought in about half as much money as they did last quarter.
PrimeBlock, a mining company, said it would go public with a SPAC worth $1.25 billion. A blockchain cloud infrastructure company called W3BCloud said in August that its SPAC merger would cost the same amount.
The Japanese cryptocurrency exchange Coincheck has confirmed to Cointelegraph that it will go public in the US through Nasdaq. This move could help the company get into the country’s financial markets.
The US Securities and Exchange Commission received these claims (SEC) documents. Most likely, trading will begin on July 2, 2023, on the Nasdaq stock market. Coincheck hoped to be traded on public markets by March 2022. When the article was written, the magazine said that the merger with Thunder Bridge Capital was worth about $1.25 billion. The company has 1.75 million verified accounts, according to Coincheck’s financial documents.
This is 27% of the Japanese cryptocurrency trading market. Even so, the number of trades went down at the company. This could be because the market for cryptocurrencies isn’t doing well. From the last quarter to this quarter, the operating income will likely drop by about half.
In April 2022, it was announced that the mining company PrimeBlock would sell $1.25 billion worth of stock to the public through a SPAC offering. In August 2022, the SPAC merger of blockchain cloud infrastructure provider W3BCloud used the same tag. eToro, a stock and cryptocurrency exchange, was trying to stop a deal that would have led to a $10 billion merger.
People who want to buy or sell cryptocurrency go through centralized cryptocurrency exchanges. They make money from each trade by getting commissions and fees. A CEX is like a stock market but only deals with digital assets.
Some of the most well-known places to buy and sell cryptocurrencies are Coinbase, Crypto.com, Gemini, and Binance.
CEXs use an “order book,” where buy and sell orders are posted and organized by the price at which they are to be purchased or sold. The exchange’s matching engine will then try to match buyers and sellers based on the best price that can be executed for the size of the lot that is wanted. So, the price of a digital asset depends on how much of it is bought and sold compared to how much of another asset is bought and sold. This other thing could be money or a digital currency.
