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As Coinbase heads for a blockbuster listing on Nasdaq, the company announces stock options for its team with each employee getting around 100 COIN shares.
As Coinbase is all set to go public ahead today on the Nasdaq exchange, the company has received a reference point for its COIN shares. As per Nasdaq and Goldman Sachs, Coinbase (COIN) stock should start trading at $250 per share.
Thus, with 266.2 million shares outstanding shares, this gives the company a valuation of $66.5 billion. Also, the reference price is usually a conservative estimate as it depends on market sentiment and public financial information. However, Coinbase has traded much high than this in the private secondary market. The current reference price is 37% lower than $343 per COIN share that Coinbase sold previously.