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Fenwick & West advises Coinbase on landmark crypto listing
16 April 2021
Latham & Watkins acts for the financial advisors on the deal
Shutterstock Silicon Valley-based firm Fenwick & West advised cryptocurrency exchange platform Coinbase on its highly-anticipated direct listing on the Nasdaq stock exchange this week, the first major crypto business to go public. Coinbase’s shares jumped from its reference price of $250 on Wednesday to as high as $429 before closing Thursday at $322.75 a share, valuing the company at roughly $85bn – more than eight times its valuation at its last private funding round. Coinbase allows investors to buy, sell and store cryptocurrencies such as Bitcoin and Ethereum.