Coinbase made its Nasdaq debut hitting $ 350 per share, 40% above a benchmark price of $ 250 per share. The direct listing chosen by Coinbase for the listing meant that the company did not have to issue new shares, but limited itself to offering investors its private stock, following the path that in recent years have also chosen Spotify or Slack.
Coinbase’s landing on the stock exchange went hand in hand with the rise in cryptocurrencies in recent days. The price of Bitcoin has risen by more than 11% in the last 7 days, reaching an all-time high of $ 64,000 today (according to data from CoinMarketCap). ETH also updated its record to $ 2,397 today.
Coinbase, founded in 2012 by Brian Armstrong and Fred Ehrsam, has become one of the most recognizable names in the cryptocurrency industry. Today, it has around 56 million users worldwide and around $ 223 billion in assets on its platform, accounting for 11.3% of digital assets in circulation.
