12-23-2020, 03:43 AM
Get ik before Wall Street: the Coinbase Pre IPO
<!-- SC_OFF --><div class="md"><p>I read <a href="https://psilocybin.medium.com/how-not-to-trade-ipos-93bb10be20f4">this piece</a> mentioning Coinbase PreIPO contracts yesterday</p> <p>And today they <a href="https://warosu.org/biz/thread/S25039356">actually got listed</a></p> <p>Massive valuation indeed, but I think the medium writer is right in saying f<strong>undamentals don't matter for IPOs</strong> (just like in shortsqueezes)</p> <p>So I pulled the trigger and bought in. I will sell up or around IPO day, trying to cash in on the hype.</p> <p><strong>What is a 'pre ipo contract'?</strong> This contract will be converted into a tokenized share at the end of the day of the IPO. These shares are backed 1 on 1 by the actual shares. With previous listings (AirBNB) this means your contracts will trade at the same price as the actual (Nasdaq) listing. It is regulated according to German financial law.</p> <p><strong>Isn't it massively overvalued already?</strong> Probably, but so are all IPO's. Have a look at Snowflake, Uber, AirBNB and Doordash. At least here we can get in BEFORE the IPO.</p> <p>The pre IPO contracts will be converted to tokenized shares at the end of IPO day, the tokenized shares are fully backed 1 on 1 by the primary listed shares.</p> <blockquote> <p>"CM-Equity is fully regulated in Germany, and is a licensed financial institution permitted to offer these products. All FTX users who trade tokenized stocks may also have to become customers of CM-Equity, and pass through CM-Equity's KYC and compliance. Furthermore, all trading activity may be monitored for compliance by CM-Equity. CM-Equity custodies the equities at a third party brokerage firm. CM-Equity (not FTX Trading LTD) provides the brokerage services. In order to trade tokenized stocks on FTX, you must be at least KYC level 2. Once you are, you can go to your tokenized stocks KYC page to submit your information to CM-Equity. You must also not be a member of one of FTX's restricted jurisdictions, including the United States; FTX collects KYC documents and IP addresses from its users. FTX does not operate in its restricted jurisdictions."</p> </blockquote> <p><strong><em>THIS IS NOT OPEN TO US CITIZENS</em></strong></p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/toplelkekfag"> /u/toplelkekfag </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/khx0rj/get_ik_before_wall_street_the_coinbase_pre_ipo/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/khx0rj/get_ik_before_wall_street_the_coinbase_pre_ipo/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>I read <a href="https://psilocybin.medium.com/how-not-to-trade-ipos-93bb10be20f4">this piece</a> mentioning Coinbase PreIPO contracts yesterday</p> <p>And today they <a href="https://warosu.org/biz/thread/S25039356">actually got listed</a></p> <p>Massive valuation indeed, but I think the medium writer is right in saying f<strong>undamentals don't matter for IPOs</strong> (just like in shortsqueezes)</p> <p>So I pulled the trigger and bought in. I will sell up or around IPO day, trying to cash in on the hype.</p> <p><strong>What is a 'pre ipo contract'?</strong> This contract will be converted into a tokenized share at the end of the day of the IPO. These shares are backed 1 on 1 by the actual shares. With previous listings (AirBNB) this means your contracts will trade at the same price as the actual (Nasdaq) listing. It is regulated according to German financial law.</p> <p><strong>Isn't it massively overvalued already?</strong> Probably, but so are all IPO's. Have a look at Snowflake, Uber, AirBNB and Doordash. At least here we can get in BEFORE the IPO.</p> <p>The pre IPO contracts will be converted to tokenized shares at the end of IPO day, the tokenized shares are fully backed 1 on 1 by the primary listed shares.</p> <blockquote> <p>"CM-Equity is fully regulated in Germany, and is a licensed financial institution permitted to offer these products. All FTX users who trade tokenized stocks may also have to become customers of CM-Equity, and pass through CM-Equity's KYC and compliance. Furthermore, all trading activity may be monitored for compliance by CM-Equity. CM-Equity custodies the equities at a third party brokerage firm. CM-Equity (not FTX Trading LTD) provides the brokerage services. In order to trade tokenized stocks on FTX, you must be at least KYC level 2. Once you are, you can go to your tokenized stocks KYC page to submit your information to CM-Equity. You must also not be a member of one of FTX's restricted jurisdictions, including the United States; FTX collects KYC documents and IP addresses from its users. FTX does not operate in its restricted jurisdictions."</p> </blockquote> <p><strong><em>THIS IS NOT OPEN TO US CITIZENS</em></strong></p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/toplelkekfag"> /u/toplelkekfag </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/khx0rj/get_ik_before_wall_street_the_coinbase_pre_ipo/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/khx0rj/get_ik_before_wall_street_the_coinbase_pre_ipo/">[comments]</a></span>Kind Regards R