Coinbase Global was valued at $86-billion at the end of its Nasdaq debut on Wednesday, in a choppy day of trading when its valuation went as high as $112-billion.
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Coinbase Global, the biggest US cryptocurrency exchange, will list on the Nasdaq on Wednesday, marking a milestone in the journey of virtual currencies from niche technology to mainstream asset.
Promoted | Bitcoin hit a record above $63 000 on Tuesday, extending its 2021 rally to new heights a day before the listing of Coinbase shares in the US.
Coinbase Global, the largest US cryptocurrency exchange, said on Wednesday that recent private market transactions had valued the company at around $68-billion.
Coinbase Global’s filing to become a publicly traded company provides a glimpse into the remarkably small circle of mostly men who command the incredibly lucrative digital landscape.
Bitcoin plunged on Thursday, slamming the brakes on a blistering rally and sparking a sell-off among smaller digital coins. Bitcoin slumped as much as 13% to its lowest since 16 November.
Bitcoin plunged after one of the largest exchanges halted trading because hackers stole about US$65m of the digital currency. Bitcoin slumped by 5,3% against the dollar as of 10.17am on Wednesday in