COIN ALERT

Kessler Topaz Meltzer & Check, LLP Reminds Investors of Securities Fraud Class Action Lawsuit Filed Against Coinbase Global Inc.

The law firm of Kessler Topaz Meltzer & Check, LLP announces that a securities fraud class action lawsuit has been filed against Coinbase Global Inc. (NASDAQ: COIN) (“Coinbase”) on behalf of those who purchased or acquired Coinbase Class A common stock pursuant and/or traceable to the registration statement and prospectus (collectively, the “Offering Materials”) for the resale of up to 114,850,769 shares of its Class A common stock, whereby Coinbase began trading as a public company on or around April 14, 2021 (the “Offering”).

Deadline Reminder: Investors who purchased or acquired Coinbase Class A common stock pursuant and/or traceable to the Offering may, no later than September 20, 2021, seek to be appointed as a lead plaintiff representative of the class. For additional information or to learn how to participate in this litigation please contact Kessler Topaz Meltzer & Check, LLP: James Maro, Esq. [phone]; toll free at [phone]; via e-mail at [e-mail]; or click https://www.ktmc.com/coinbase-global-class-action-lawsuit?utm_source=P ...

According to the complaint, Coinbase “powers the cryptoeconomy,” offering a “trusted platform” for sending and receiving Bitcoin and other digital assets built using blockchain technology to approximately 43 million retail users, 7,000 institutions, and 115,000 ecosystem partners in over 100 countries.

On April 14, 2021, Coinbase filed its prospectus on a Form 424B4, which forms part of the registration statement. Coinbase registered for the resale of up to 114,850,769 shares of its Class A common stock by registered shareholders. According to the registration statement, the resale of Coinbase’s stock was not underwritten by any investment bank and the registered stockholders would purportedly elect whether or not to sell their shares. Such sales, if any, would be brokerage transactions on the NASDAQ, and Coinbase would purportedly not receive any proceeds from the sale of shares of Class A common stock by the registered stockholders. Thus, Coinbase’s operations would continue to be financed with cash flow from operating activities and net proceeds from the sale of convertible preferred stock. As of December 31, 2020, Coinbase had cash and cash equivalents of $1.1 billion, exclusive of restricted cash and customer custodial funds.