Coinbase Goes Public in Direct Listing
Coinbase (NYSE:COIN) goes public today in a direct listing valued at approximately $61 Billion USD - months after both Visa and Mastercard announced their crypto joint ventures. This direct listing comes after a recent partnership with Paypal allowing easier acces to buy, sell and fund your wallet with fiat currency. Already leading the U.S market in terms of transaction volume, Coinbase earned $1.14 Billion USD in revenue in 2020 and is expected to keep growing as more first time users create their own digital wallets. At time of writing, the stock price is trading at $338.00 USD after-hours.
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