Coinbase Valued At $100 Billion, More Than CME, ICE, CBOE And Nasdaq | WHAT REALLY HAPPENED

Coinbase Valued At $100 Billion, More Than CME, ICE, CBOE And Nasdaq

Bitcoin's explosive price surge in the past year which has pushed its market cap well over $1 trillion for the first time, has not only benefited the cryptocurrency and its peers, but has sent shockwaves across downstream sectors which cater to providing access to the soaring demand for crypto exposure around the world.

And few "conventional" companies have benefited more from bitcoin's ascent than Coinbase, which according to The Block Crypto was valued at a stunning $100 billion in its latest private round sale ahead of the crypto exchange's long-awaited direct listing.

As The Block reports, the average clearing price for shares on Nasdaq Private Market continues to tick higher since the first secondary sale four weeks ago. As an aside, Axios notes that Coinbase launched a secondary share sale via Nasdaq Private Markets (f.k.a. Second Market) last month, offering up to 1.8 million shares in weekly batches. The goal was to help Coinbase determine a reference price for its public offering, which will be done via direct listing instead of IPO.

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