Coinbase soars to $105bn valuation in trading debut
Shares of the cryptocurrency exchange jump to $405.05 in early trade, beating Nasdaq’s $250 reference price
14 April 2021 - 20:33
Cryptocurrency exchange Coinbase Global reached a valuation of $105bn in its trading debut on Wednesday, as bitcoin hit a record high and investors bet on digital currencies going mainstream.
The company’s shares climbed as high as $405.05 in New York trading after opening at $381. The stock hit $403.68 at 1.31pm to reach the $105bn valuation, which includes employee stock options and restricted stock units as well as the class A shares now trading on Nasdaq...
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