Coinbase Gets $ 250 Per Share Reference Price For Direct Trading On NASDAQ


Coinbase earns a reference price of $ 250 per share for its direct listing on the NASDAQ stock exchange. Coinbase, one of the largest cryptocurrency exchanges, will become the first major cryptocurrency company to go public in the US when it is listed on the NASDAQ on Wednesday, April 14.

Crypto Economy previously reported that Coinbase was ready to go public via direct listing, as Class A common shares of the exchange would begin trading on the NASDAQ Stock Exchange on April 14.

This momentous day for the crypto space has arrived, as Coinbase will be listed on the NASDAQ on Wednesday, April 14. Coinbase will make its shares available to the public through a direct listing, which differs from a traditional initial public offering in that the company in question does not depend on subscribers and does not issue a new batch of shares.

Coinbase stock is expected to begin trading on Wednesday morning San Francisco time, where the company is based.

Coinbase's reference price per share for its direct listing is reportedly $ 250, which values ​​the company at around $ 65.3 billion on a fully diluted basis.

Coinbase shares are scheduled to begin trading under the symbol "COIN." In this case, $ COIN was set at the $ 250 mark for its Nasdaq debut. Nasdaq emphasized that the reference price is different from whatever price $ COIN may open at when it starts trading.

This is Nasdaq's first major direct quote. In the five significant direct quotes that have been made on the New York Stock Exchange, the opening price was on average about 37% above the reference price.

If this happens for Coinbase, the opening price of Coinbase shares would be around $ 343, very close to the price in a private auction held in March.

According to some reports, Coinbase is also giving away 100 shares to each of its 17,000 full-time employees around the world. This means that every full-time employee of the company is poised to become $ 25,000 richer based on a $ 250 benchmark price set by the stock exchange.

This is one of the most important milestones for the nascent cryptocurrency industry, as the Coinbase listing could revalue the entire crypto space. According to experts, this is the "Rorschach test" to determine investors' belief in cryptocurrencies. The impact of the listing has already been felt as Bitcoin posted a new ATH of $ 64,758 on April 14, according to CoinMarketCap.

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