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What Coinbase's blockbuster IPO means for the future of crypto

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What Coinbase’s blockbuster IPO means for the future of crypto
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US cryptocurrency exchange Coinbase listed on the Nasdaq stock exchange last week, sparking another rally in cryptocurrency prices worldwide. Mint explains the significance of the listing, how it could change perceptions, and what it means for the industry in India.
Why is the Coinbase IPO important?
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. 18 Apr 2021
Coinbase, founded in 2012, is said to be the world’s largest cryptocurrency exchange as far as converting cryptocurrency to regular currency is concerned. The company started trading on the Nasdaq on 14 April at a valuation of almost $100 billion. The public listing is expected to boost the credibility of crypto trading and traders, who have faced pushback from governments all over the world, including in India. Publicly listed companies are subject to certain regulations and disclosures, increasing trust in what they do, and the sectors where they operate.

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COIN Banega Crorepati
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It's Zaheer.
Coinbase, the world's second-largest cryptocurrency exchange, went public on the Nasdaq this week. Not bad going for a company that began life in a loft and deals in what John Oliver once described as “everything you don't understand about money, combined with everything you don't understand about computers”.
Coinbase drags crypto into the mainstream
In September 2017, Bloomberg reported that Jamie Dimon, then chief executive of JPMorgan Chase & Co, called Bitcoin a “fraud” and said he would fire any employee trading it for being “stupid”.
Earlier this week, Coinbase, the largest cryptocurrency exchange in the US, went public with a direct listing* on the Nasdaq.

Coinbase tumbles 19% in trading debut as valuation hovers around $100 billion

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Coinbase tumbles 19% in trading debut as valuation hovers around $100 billion
Emily GraffeoApr 16, 2021, 01:01 IST
Coinbase CEO Brian ArmstrongAnthony Harvey / Stringer
Coinbase on Wednesday tumbled as much as 19% in its trading debut on the Nasdaq.
The
direct listing had a $250-per-share reference price, and opened at $381 before hitting an intraday high of $429.54. It then reversed gains, trading as low as $310.
Coinbase is the first major cryptocurrency exchange to go public.
Shares of Coinbase tumbled as much as 19% on Wednesday in its hotly anticipated trading debut on the Nasdaq before paring back gains.
The direct listing had a $250-per-share reference price, and opened at $381 before hitting an intraday high of $429.54, which was 13% above its opening price.

coinbase share price: Coinbase shares jump 11% day after Nasdaq debut

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Synopsis
Coinbase was valued at just under $6 billion as recently as September, but its valuation has surged toe-to-toe with bitcoin's gains this year. The company was valued at $86 billion at the end of Wednesday's trading session.
AP
Cathie Wood's Ark funds bought $246 million worth of Coinbase shares in the debut on Wednesday, according to the firm's daily trade summary.
Coinbase Global Inc shares jumped 11% in early trades on Thursday, a day after the cryptocurrency exchange went public in a high-profile debut on the Nasdaq that briefly valued it at more than $100 billion.
The debut marks another milestone for bitcoin and other digital assets and comes amid a surge in the value of cryptocurrencies that has lured a clutch of mainstream, top-tier firms.

coinbase global: Coinbase listing marks latest step in crypto's march to the mainstream

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Synopsis
Still, some institutional investors voiced caution over long-term prospects for Coinbase and the cryptocurrency sector. Risks include Coinbase's exposure to a highly volatile asset, bitcoin, which is still subject to patchy regulation.
AP
Founded in 2012, Coinbase boasts 56 million users globally and an estimated $223 billion assets on its platform, accounting for 11.3% crypto asset market share, according to regulatory filings.
London:Coinbase Global Inc, the biggest US cryptocurrency exchange, will list on Nasdaq on Wednesday, marking a milestone in the journey of virtual currencies from niche technology to mainstream asset.
The listing is by far the biggest yet of a cryptocurrency company, with the San Francisco-based firm saying last month that private market transactions had valued the company at around $68 billion this year, versus $5.8 billion in September.

Coinbase listing marks latest step in cryptocurrency's march to the mainstream

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The listing marks a victory for digital currency advocates in a year that has seen a clutch of mainstream, top-tier firms dive into the space

Bitcoin hits record high at $62,741- Business News

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Bitcoin hits record high at $62,741
The largest US cryptocurrency exchange's listing on the Nasdaq on Wednesday is considered a landmark victory for cryptocurrency advocates
Reuters | April 13, 2021 | Updated 15:34 IST
Bitcoin hit a record of $62,741 on Tuesday, extending its 2021 rally to new heights a day ahead of Coinbase's initial public offering.
The largest US cryptocurrency exchange's listing on the Nasdaq on Wednesday is considered a landmark victory for cryptocurrency advocates.
The world's biggest cryptocurrency, which has growing mainstream acceptance as an investment and a means of payment, rose as much as 5% on Tuesday. Smaller rival Ethereum also reached a record high of $2,205.

Bitcoin hits record high before landmark Coinbase IPO

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The world's biggest cryptocurrency, which has growing mainstream acceptance as an investment and a means of payment, rose as much as 5% on Tuesday. Smaller rival Ethereum also reached a record high of $2,205. Major firms including BNY Mellon, Mastercard Inc and Tesla Inc are among those to have embraced or invested in cryptocurrencies.

Who Will Follow Coinbase's Path To Wall Street?

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The Coinbase IPO is coming this week. Is it worth a buy? And, market players ponder: who’s up next?

Coinbase IPO: Coinbase gets all-clear from SEC, setting stage for landmark crypto listing

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A successful listing for Coinbase would mark a significant endorsement for a sector that has struggled to win the trust of mainstream investors, regulators and the general public.

Coinbase IPO: Coinbase reveals direct listing application with SEC

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Coinbase said in December that it had confidentially applied with the U.S. Securities and Exchange Commission to go public.

Coinbase IPO: Here's What You Need To Know

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WKBT
February 4, 2021 8:29 AM
Taylor Tepper - Forbes Advisor
Posted:
Updated:
Soon you’ll be able to buy the company that helps you buy Bitcoin.
Coinbase, the largest cryptocurrency exchange in the U.S., has announced plans to go public—but it will eschew the traditional initial public offering (IPO) process of hiring investment banks to drum up interest and finance the deal.
Instead, Coinbase plans to post its shares straight on an exchange via a so-called direct listing, a technique pioneered by big names like Spotify (SPOT) and Palantir (PLTR) in recent years.
This nontraditional yet trendy choice makes a certain amount of sense for the Coinbase narrative, given that the company has aided and abetted the similarly non-establishment cryptocurrency craze over the past decade. Whether Bitcoin itself actually replaces dollars or develops further as a speculative asset remains to be seen.

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