Coinbase is listing for US$100 billion on NASDAQ
Coinbase (COIN.US), one of the major cryptocurrency exchanges, went public on Wall Street today. The company was founded in 2012 by Brian Armstrong and Fred Ehrsam, and as of March 2021, was the largest cryptocurrency exchange in the United States by trading volume. Instead of following the traditional initial public offering (IPO) route, Coinbase posted its shares straight on the NASDAQ exchange via a direct listing, a technique pioneered by big names like Spotify and Palantir in recent years. The company will trade under the ticker COIN and list 114,850,769 shares with an initial valuation of US$100 billion. Today's IPO provides investors a form of exposure to the cryptocurrency market. Tomorrow we will provide more information about the company in our "Stock of the week" analysis.
Coinbase (COIN.US) shares soared in their market debut. M1 interval. Source: xStation5
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