Coinbase is the first virtual asset company to be listed directly on NASDAQ instead of IPO.
According to a Bloomberg report on the 9th, a private NASDAQ transaction of CoinBase Global, the largest virtual asset exchange in the U.S., was conducted last week, suggesting that it is worth $90 billion prior to the imminent listing.
Bloomberg quoted officials in this regard, saying that the stock price changed to $350 each through a NASDAQ private market auction on the 4th.
That coinbase is worth $90 billion is an increase of $13 billion from last February, when the stock price was traded at about $303 each.
Sources from Bloomberg also said some stocks had reached $375 each, raising the company’s value to about $100 billion. This is also the amount previously proposed by Consensys columnist and global fintech co-director Lex Sokolin.
They also suggested that the auction was the last chance for the stock to be traded privately before Coinbase’s direct listing on the NASDAQ scheduled for later this month.
While the price of this transaction does not necessarily indicate future prices, such a private private transaction can provide a good point of reference for an exchange to set a stock price for listing.
Coinbase announced at the end of last year that it was the first major virtual asset company to initiate a public offering (IPO). Although there are small virtual asset-based companies already listed on the U.S. or overseas stock exchanges, this is the first time a leading company in the industry such as Coinbase is promoting listing.