Coinbase heads for $89 billion valuation in Nasdaq debut

Reuters

Posted at Apr 15 2021 08:29 AM

Coinbase heads for $89 billion valuation in Nasdaq debut 1
Employees of Coinbase Global Inc, the biggest U.S. cryptocurrency exchange, watch as their listing is displayed on the Nasdaq MarketSite jumbotron at Times Square in New York, US, April 14, 2021. Shannon Stapleton, Reuters

Shares of Coinbase Global Inc were set to jump 36 percent above their reference price in the cryptocurrency exchange's market debut on Wednesday, the latest sign of the surge in interest and trading in bitcoin and other digital currencies.

At 10:12 a.m. ET, the company's stock was indicated to open at $340, up from a reference price of $250 per share.

At the indicated price, the digital asset exchange would be valued at around $89 billion.