Crypto firm Coinbase has tapped Nasdaq for its highly anticipated direct listing, according to The Block.
- Coinbase will become one of the few cryptocurrency exchange companies on tech-heavy Nasdaq when it lists, though the timeline is still unclear.
- Existing Coinbase investors have already been trading shares through Nasdaq's Private Market platform, where the company has notched an implied valuation of $50 billion, according to The Block.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.