Coincheck Goes Public on Nasdaq

TLDR

• Coincheck went public via de-SPAC.
• It’s available on major brokerages.
• It’s the first exchange to go public since Coinbase.

Coincheck, Japan’s second-largest cryptocurrency exchange, just made a major move in the crypto world by going public on Nasdaq. This marks a significant step as Coincheck becomes only the second crypto exchange to achieve a public listing in the US, following in Coinbase’s footsteps. 

While that’s a big deal for the industry, what does this mean for you as a crypto beginner? Let’s break it down. 

A Quick Snapshot of the News 

Coincheck is merging with Thunder Bridge Capital Partners IV through a process called a de-SPAC transaction. If phrases like “de-SPAC” make you want to Google some crypto jargon, don’t worry — we’ll explain what that means shortly. 

The end result? 

The combined company, Coincheck Group N.V., is now trading on the Nasdaq under the ticker symbol CNCK, with an initial market capitalization of approximately $1.3 billion. 

The move is designed to attract international investors and help the company expand globally. Going public also offers them valuable Nasdaq-listed shares, which they can use to recruit top talent and make acquisitions. 

What’s a De-SPAC? 

It sounds complex, but here’s the gist. A de-SPAC is when a private company (in this case, Coincheck) merges with a SPAC (Special Purpose Acquisition Company) — basically, a blank check company meant to help other firms go public. 

Thunder Bridge IV, the SPAC involved here, raised $230 million in its own IPO in 2021, specifically for deals like this. Post-merger, Coincheck emerges as the newly combined entity that can trade on the stock exchange. 

Why This Matters for Beginners Exploring Crypto 

If you’re new to crypto, you’re probably wondering why this move matters to you. Here’s why Coincheck going public is a big deal. 

1. Legitimacy for the Industry 

One of our favorite things to report here at Dypto Crypto is how the lines between crypto and TradFi continue to blur. This is a prime example of that.

Coincheck’s listing on Nasdaq signals a growing acceptance of cryptocurrency exchanges in mainstream finance. It’s not just about buying Bitcoin anymore — crypto is leveling up, and big players like Nasdaq are taking notice.

When traditional investors and institutions see an established exchange like Coincheck hitting the public markets, they’re more likely to consider crypto as a legitimate asset class. For you, that means more opportunities and possibly even more stable platforms to trade on in the future. 

2. Global Expansion and Innovation 

Coincheck has been vocal about using the Nasdaq listing as a springboard for global growth and acquisitions. For crypto users, this could mean better features, expanded services, and partnerships that improve the overall experience of using exchanges. 

3. Learning From the Past 

If you’ve done any Googling on Coincheck, you might’ve come across its not-so-great moment in crypto history — yes, we’re talking about the infamous hack of 2018. It was one of the largest exchange hacks to date, with Coincheck losing $530 million worth of NEM tokens. 

Despite this, the exchange repaid all 260,000 affected users using its own funds and improved security through stricter KYC (Know Your Customer) protocols. With a public listing, the transparency and governance standards of being a Nasdaq member will likely hold them to an even higher accountability. 

4. Influence on Other Exchanges 

Coincheck’s public listing could pave the way for other crypto exchanges to follow suit. Coinbase broke the ice in 2021 with its direct stock listing, and more exchanges might consider public offerings as a path toward growth and global reach. This could ultimately mean more competition and better services for crypto users like you. 

What This Means for the Future of Crypto 

Coincheck going public marks another milestone for the crypto industry, showing that exchanges are evolving into respected players in the financial world. Users can buy CNCK on all major brokerage platforms, such as Robinhood.

For you, this could mean better platforms, enhanced security, and broader acceptance of crypto as an asset class. It’s an exciting time to explore crypto, and as the industry becomes more established, the opportunities for users like you are only growing. 

Stay curious, stay informed, and keep exploring. The world of crypto is just getting started.