Coinbase valued at $100 Bn in Nasdaq debut

Cryptocurrency exchange Coinbase Global Inc was valued at almost $100 Bb in a Nasdaq debut on Wednesday that marked another milestone in the development of bitcoin and other digital assets.

The company’s stock market debut, done through a direct listing where no shares are sold ahead of the opening, comes amid a surge in the value of cryptocurrencies which has lured a clutch of mainstream, top-tier firms dive into the space.

Coinbase’s stock opened at $381 per share, up 52.4% from a reference price of $250 per share set on Tuesday.However, the price is only 10.9% above the $343.58 volume-weighted average price Coinbase’s shares were trading at privately in the first quarter of 2021.

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