![]() ![]() One Tweet Is All It Takes – Elon Musk Sends Dogecoin's Price Up 30% In Minutes Again The Weeknd Drops His Exclusive NFT Collection, And Only One Person Will Have Access To His Unreleased Song On that front, the timing couldn’t be better for Coinbase as retail demand for crypto doesn’t appear to be waning.Ĭrypto markets looked poised for another leg up, as the market-leading cryptocurrency Bitcoin was back above $60,000 at the time of writing, and most altcoins trading higher as well.Įthereum, the second-largest cryptocurrency by market cap, geared towards a new all-time high as it traded above $2000 at press time.Ĭlick here for options trades from Benzinga The cryptocurrency exchange, which reported $1.3 billion in revenue and $322 million in profit in 2020 alone, largely depends on the fees from active cryptocurrency traders on its platform. The company later updated a filing with the SEC, disclosing an average share price of $343.58 at the private market auction, which the Nasdaq will likely use as a reference price ahead of the company’s direct listing. In a private market auction earlier this year, shares reportedly traded between $350 and $375, implying a pre-IPO valuation of between $90 and $100 billion. Why It Matters: Coinbase has 43 million users in over 100 countries across the globe. See also: How to Buy Coinbase IPO (COIN) Stock On Thursday, Coinbase announced that the proposed direct listing of its Class A Common Stock was declared effective by the SEC on April 1, and shares would begin trading under the Global Select Market under the ticker symbol “COIN” on April 14. ![]() The anticipated event was originally scheduled to take place in March, but the company announced last month it would be postponing the listing to April without disclosing any reasons for the delay.
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