Coinbase, Readying for Public Listing, Gets $77B Valuation From Nasdaq Private Market
Last week’s settlement price of $303 per share would make Coinbase bigger than NYSE-owner ICE.
The share price implies a market value for the cryptocurrency-focused investment firm of $860 million.
The Jersey-based investment firm said its offering was oversubscribed, garnering subscriptions for nearly $80 million.
The COIN ticker is coming to public markets soon, Coinbase announced Thursday.
Coinbase's offering will become the first large-scale direct listing on the Nasdaq, an alternative to an IPO.
While these moves seem opportunistic at first glance, some of the companies are well-positioned to get involved in bitcoin mining.