Coinbase tumbles 19% in trading debut as valuation hovers around $100 billion
Emily GraffeoApr 16, 2021, 01:01 IST
Coinbase CEO Brian ArmstrongAnthony Harvey / Stringer
Coinbase on Wednesday tumbled as much as 19% in its trading debut on the Nasdaq.
The
direct listing had a $250-per-share reference price, and opened at $381 before hitting an intraday high of $429.54. It then reversed gains, trading as low as $310.
Coinbase is the first major cryptocurrency exchange to go public.
Shares of Coinbase tumbled as much as 19% on Wednesday in its hotly anticipated trading debut on the Nasdaq before paring back gains.
The direct listing had a $250-per-share reference price, and opened at $381 before hitting an intraday high of $429.54, which was 13% above its opening price.
Cathie Wood s Ark funds bought a big stake in Coinbase kitv.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from kitv.com Daily Mail and Mail on Sunday newspapers.
GOP Leader McCarthy Says Government Tried to Make Bitcoin Go Away as Value Reaches All-Time High
On 4/13/21 at 11:01 AM EDT
As bitcoin hit an all-time high on Tuesday, House Minority Leader Kevin McCarthy said he does not want to keep his head in the sand when it comes to recognizing the significance of the cryptocurrency for America s competitive future. This is something that those who regulate, those who are in government, that make policy, better start understanding what it means for the future, because other countries are moving forward, especially China, McCarthy told CNBC s
Squawk Box. I do not want America to fall behind. I want the next century to be ours.
Rapper Nasir Jones among Top Gainers from Anticipated Coinbase Listing
2 hours ago by Steve Muchoki · 3 min read
Photo: Nasir Jones / Instagram
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During the past three months, Coinbase recorded a revenue of approximately $1.8 billion in comparison to $190 million recorded in the same time last year.
American rapper, songwriter, and entrepreneur Nasir Jones alias Nas through his investment firm QueensBridge Venture Partners is expected to reap huge profits once Coinbase lists for public trading on April 14. According to Coindesk, Jones could net millions of dollars from the $25 million investment in Coinbase Series B funding round.