Coinbase Positioned to Lead Amid IPO Buzz
With crypto markets heating up again, interest in U.S.-based exchange IPOs is growing — and according to Ray Salmond, Head of Markets at Cointelegraph, this trend could strengthen the outlook for Coinbase ($COIN).
Coinbase, the first publicly traded crypto exchange in the U.S., has weathered regulatory storms and market volatility to remain the industry’s leading compliant player. As more exchanges prepare to go public, Salmond sees Coinbase’s position as a trailblazer giving it a clear strategic edge.
Why Coinbase Still Holds the Advantage
While several exchanges — including Kraken and potentially Binance.US — are rumored to be preparing for IPOs, Coinbase’s early entry into public markets has allowed it to build institutional relationships, regulatory frameworks, and investor trust that new entrants will struggle to match.
Ray Salmond points out that Coinbase’s transparency, SEC filings, and U.S. compliance history give it an upper hand as investors evaluate risk in the space. This credibility could become even more valuable as the SEC begins scrutinizing new exchange IPO filings more closely.
Cointelegraph Head of Markets Ray Salmond on the outlook for Coinbase and $COIN as more crypto exchanges prepare for IPOs in the US. https://t.co/mcSYNfr2dr
— Cointelegraph (@Cointelegraph) November 1, 2025
IPO Wave Could Lift the Entire Sector
The prospect of more crypto exchange IPOs is a bullish sign for the industry. It suggests maturing infrastructure, increasing regulatory engagement, and greater capital market access. Salmond notes that Coinbase could benefit from renewed excitement, especially if it’s seen as the “gold standard” among publicly traded exchanges.
Moreover, with crypto prices recovering and institutional adoption growing, investor appetite for crypto-related stocks — including $COIN — may surge in parallel with these IPO announcements.