The New Paper

April 14, 2021

Coinbase set to go public in direct listing

Coinbase will go public through a direct listing today. The cryptocurrency exchange set a “reference price” of $250 per share, implying a ~$65B valuation. The company generated nearly $2B of revenue in Q1 (up ~9x year-over-year) and has over 56M users. The ongoing growth comes amid increasing corporate, institutional, and individual adoption of cryptocurrencies (e.g. Bitcoin and Ethereum).
This story is from the April 14, 2021 edition of The New Paper – a clear, concise daily briefing that makes fact-first news easy to consume. Try it today.