One of the most popular centralized exchanges for crypto, Coinbase, has decided to do a direct listing on the Nasdaq rather than the New York Stock Exchange according to The Block.
In the Nasdaq Private Market on January 25, Pre-IPO Coinbase shares sold for $200 which would value the firm at around $50.8 billion ($200*254 million shares outstanding). Online database and research agency, Messari had calculated that the firm was valued at $28 billion back in December when Coinbase first filed with the SEC. Futures contracts have Coinbase shares trading at $277 on FTX. All this to say, Coinbase stock is going to be hot. Stay tuned.