![]() The Silicon Valley crypto exchange was co-founded in 2012 by Brian Armstrong, 38, who runs the platform as chief executive. The following is what you need to know about the Coinbase lising. In a direct listing, a company floats its shares on a stock exchange but without hiring banks to underwrite the transaction as in an IPO. The parent company of the New York Stock Exchange. Where Coinbase will directly list, and Intercontinental Exchange Some caution that the implied valuation for Coinbase as a crypto exchange has gotten too lofty, compared with traditional stock exchanges like Nasdaq Inc. “Coinbase is a foundational piece of the crypto ecosystem and is a barometer for the growing mainstream adoption of bitcoin and crypto for the coming years in our opinion,” he wrote in a research note Tuesday. Wedbush analyst Dan Ives said the listing is a reflection of cryptocurrencies’ having arrived at the mainstream. “Coinbase’s direct listing is a watershed moment for the crypto industry.” Leeor Shimron, an analyst at FundStrat Global Advisors, described the Coinbase listing as seminal. ![]() ![]() Market Extra: This new ETF gets you access to the backbone of the crypto worldĬoinbase, whose users primarily deal in bitcoin and ethereum, reported last week that its revenue soared 847% in the first quarter to $1.8 billion, and that it now has 56 million verified users. There are few ways to secure direct ownership of crypto currencies, outside of buying them directly, a service that Coinbase provides for a fee, and which investors appear willing to pay for. Want a crash course in the future of crypto? Register for MarketWatch’s free live event: Sign up here! ![]()
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