Coinbase files to register resale of up to 11 million shares by stockholders

Coinbase Global , Inc. (NASDAQ:COIN), currently valued at over $81 billion, filed a prospectus supplement on Friday to its existing shelf registration statement, registering for resale or other disposition up to 10,997,856 shares of Class A common stock. The shares are held by selling stockholders identified in the prospectus supplement, according to a press release statement. The company’s stock has shown remarkable strength, gaining nearly 65% over the past year despite high volatility. According to InvestingPro analysis, the stock appears overvalued at current levels, though maintaining a "GOOD" financial health rating.

The registration fulfills obligations under a share purchase agreement dated May 8, 2025, involving Coinbase, Sentillia B.V., certain Sentillia shareholders, and Shareholder Representative Services LLC as agent. The agreement granted registration rights to the selling stockholders.

Coinbase also filed an opinion of counsel from Fenwick & West LLP regarding the legality of the shares being registered, as part of the SEC filing. The Class A common stock is listed on The Nasdaq Stock Market LLC under the symbol COIN.

This information is based on a statement included in a filing with the Securities and Exchange Commission.

In other recent news, Coinbase Global Inc. has completed its acquisition of Deribit for $2.9 billion, positioning itself as a comprehensive crypto derivatives platform. This acquisition is significant as Deribit reported record trading volumes in July, surpassing $185 billion, with about $60 billion in open interest. Barclays has responded to this acquisition by raising its price target for Coinbase stock to $365 from $352, maintaining an Equalweight rating. The transaction revenues from Deribit, which exceeded $30 million in July, will be included in Coinbase’s third-quarter financial results from August 14 through September 30.

Additionally, Deribit plans to launch USDC-settled linear options for bitcoin and ether, citing strong institutional and retail demand. In other developments, Thumzup Media Corporation has raised $50 million to expand its cryptocurrency holdings and mining operations. The company is set to diversify its cryptocurrency portfolio and acquire mining equipment, maintaining its current capitalization structure. Thumzup has also announced an expanded strategic relationship with Coinbase, leveraging Coinbase Prime for institutional-grade trading and financing solutions.

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