CoinBase, America’s largest crypto exchange, will announce its listing on the Nasdaq under the ticker symbol ‘COIN’ in April 2021
After a long wait and much speculation, it is now official. Coinbase – the largest crypto exchange in the United States – goes public on the Nasdaq Stock Market, the second largest exchange by market capitalization after the New York Stock Exchange (NYSE).
Coinbase stock will debut under the sticker symbol ‘COIN’ on April 14, 2021 and is expected to trade between $ 300 and $ 350.
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Coinbase had traded on Nasdaq’s private markets in March 2021 at an average price of $ 343.58, which would mean a valuation of Coinbase of about $ 100 billion.
According to Coinbase’s press release on the upcoming listing:
“Coinbase Global, Inc. announced today that its Form S-1 registration statement relating to a proposed direct public listing of its Class A common stock with the Securities and Exchange Commission (the“ SEC ”) is effective was declared by the SEC on April 1, 2021.
The registration statement for these securities has been filed with the SEC and has been declared effective. “
Here are some of the latest stats on Coinbase:
- Coinbase has over 43 million verified users worldwide and over 2.8 million people actively exchange information every month
- Coinbase has traded over $ 455 billion in total since its inception
- Coinbase has over 1,200 employees
- Coinbase operates in over 100 countries around the world
- Coinbase has over 7,000 institutions as part of its customer base
- Coinbase has over 115,000 ecosystem partners
- Coinbase had sales of over $ 1 billion in 2020, up 136 percent from 2019
- It also grossed $ 322 million in net income, the first time it made an annual profit since 2017
- Coinbase significantly increased its assets under management from $ 35 billion to $ 90 billion in 2020
Coinbase was first launched in 2012 and is the largest regulated cryptocurrency exchange in the United States. Coinbase Pro handles more than $ 3 billion worth of daily transactions, according to CoinMarketCap.
Exchange is ascribed a major role in today’s adoption of cryptocurrencies.
Based on the expected value of the listing, the CEO of Coinbase, Brian Armstrong’s 39.6 million shares will be valued at $ 13.6 billion, officially bringing him to billionaire status.
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