Coinbase gets direct listing reference price of $250/share from Nasdaq

U.S. based cryptocurrency trading giant Coinbase Global Inc. is getting ready to become the first major crypto company in the United States to go public.

Ahead of the direct listing that will take place today, Nasdaq yesterday set a reference price of $250 dollar per share which is expected to bring up the company’s market value to $47 billion. The company will trade under the COIN symbol. 

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Founded in 2012 by Brian Armstrong and Fred Ehrsam, Coinbase is currently one of the most popular cryptocurrency trading platforms in the world with over 56 million active users. 

Last week, the company reported its first quarter results of 2021 and announced that it generated a total revenue of nearly $1.8 billion with net income between $730 – $800 million.