Coinbase Crashes The Party
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Coinbase employee Daniel Huynh holds a celebratory bottle of champagne as he photographs outside the Nasdaq MarketSite, in New York's Times Square, Wednesday, April 14, 2021. (AP Photo/Richard Drew)
ASSOCIATED PRESS
In a watershed moment for the bitcoin and crypto industry, industry headliner Coinbase made its public debut via a direct listing on Nasdaq. It was a volatile day of trading, but it ended with the crypto firm achieving a market capitalization of $86 billion, making it the largest direct listing ever.
That said, despite this successful first day many questions and challenges remain for Coinbase as it gets used to life as a public company. Additionally, while there remains elevated interest from investors to buy the stock, there are important considerations to take into account first.