What is Coinbase?
The Silicon Valley crypto exchange was co-founded in 2012 by Brian Armstrong, 38, who runs the platform as chief executive. Fred Ehrsam, a Coinbase director, also played a role in the company’s creation.
When will Coinbase go public?
The Coinbase listing is set to hit the Nasdaq on Wednesday. The precise timing of the list isn’t clear, but Palantir Technologies Inc.’s PLTR direct listing in September saw the first trade of its debut session after 1:30 p.m. Eastern time.
Where will it list?
Coinbase is set to go public on the Nasdaq under the ticker symbol “COIN” as a direct listing, meaning it isn’t raising new money, as a company would in a traditional IPO.
Nasdaq gave Coinbase a reference price of $250a share on Tuesday evening, which values it at over $65 billion.
Some bulls are projecting a valuation at $100 billion or better, which would make it bigger than a number of U.S. exchanges, including ICE, Nasdaq, CME Group CME and Cboe Global Markets CBOE .
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