According to new information on the San Francisco-based exchange’s listing, Nasdaq has given Coinbase a reference stock price of $250. Nasdaq listed the stock on April 14, after weeks of high anticipation. The US crypto exchange’s direct listing has raised much excitement in both the traditional and crypto investor communities. The listing was rumored for a long time and drove much of the headlines in the past few months.
Other crypto firms may follow Coinbase’s lead.
Coinbase listing on Nasdaq will likely mark the start of several crypto companies looking to go public, seizing the momentum of public interest. The reference price was given as a result of regulation, which determines price when there has not been sustained trading in a private market. The exchange has been given a valuation of $90 billion, based on prior private sales. The crypto exchange will become the first company that allows Bitcoin trading to become available on the stock market. Investors consider this a watershed moment for the market.
Coinbase is the first company to allow Bitcoin trading to become available on the stock market.
The crypto exchange has been given a valuation of $90 billion, based on prior private sales. Coinbase will become the first company that allows Bitcoin trading to become available on the stock market. Investors consider this a watershed moment for the market. Due to non-fungible tokens (NFT) and general investments, the explosion in popularity will only further Coinbase’s interests. Founded in 2012, Coinbase is one of the earliest exchanges to hit the market. According to a recent SEC filing, the crypto exchange has more than 43 million users. As reported earlier, in Q1 2021, the exchange generated revenue of more than double that of the whole of 2020.
