CryptocurrencyExchanges

Coinbase Selects Nasdaq For Direct Stock Market Placement

Coinbase, a cryptocurrency trading platform, has selected exchange operator Nasdaq for its planned Class A direct listing on the stock market.

According to media reports, on January 25, on the Nasdaq Private Market platform, Coinbase shares were listed in the secondary securities market, thanks to which the holders of these shares were able to sell them. 

The Nasdaq Private Market also offers initial public offering (IPO) and preliminary IPO services to companies. However, Coinbase dropped this model in favor of direct listing. The exchange’s management believes that this is the best option for a company that is interested in providing liquidity for its shareholders, rather than raising new capital.

Coinbase shares on the Nasdaq Private Market traded at $ 200. Given that 254 million shares were issued, the company’s estimated valuation is more than $ 50 billion. However, this figure is too small when you consider that on the FTX exchange contracts for Coinbase shares are traded at $ 277, and the market capitalization of the exchange is estimated at $ 70 billion. on the other hand, listing Coinbase on the Nasdaq would be a big win for the exchange in itself. 

Coinbase and Nasdaq declined to comment on this information. Earlier, the head of Nasdaq Adena Friedman (Adena Friedman) said that the stock exchange is making every effort to provide conditions for the development of cryptocurrencies. Friedman believes that digital assets should become part of the global economy.

About author

Experienced Founder with a demonstrated history of working in the newspapers industry. Skilled in Data Research, Management, Investment Research, Teamwork, and Leadership. Influencing the technology, people, and technical analysis of the Cryptocurrency and Blockchain world.
Related posts
Cryptocurrency

The Ministry of Finance of the Russian Federation proposed amendments to the Code of Administrative Offenses with fines for illegal circulation of CFA and cryptocurrencies

CryptocurrencyDogecoin

Elon Musk Called Dogecoin is the People's Crypto on Twitter

Cryptocurrency

Indian Finance Minister: "we plan to regulate, not ban cryptocurrencies"

BitcoinCryptocurrency

Bill to ban "private" cryptocurrencies submitted to Indian parliament

Sign up for our newsletter and stay informed

0 0 vote
Page Rating
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments
0
Would love your thoughts, please comment.x
()
x