Coinbase business worth revealed in preparations to public listing

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Three weeks after Coinbase officially revealed its intention to go public via a direct listing, the company’s overall valuation was valued at $77 billion. The Nasdaq value is based on the privately owned stock of Coinbase. According to news, each of these shares is trading at $303 on secondary markets. Overall, the overall volume of the exchange is much higher than the Intercontinental Exchange (ICE), which runs the New York Stock Exchange (NYSE).

At press time, Coinbase did not make an official statement on the same subject.

However, sources familiar with the matter reported that the third weekly transaction was “closed on Friday” and that the clearing price was “$303 per share.” In the first week, the transaction amounted to $200 per share and, subsequently, to $301 and $303 per share, respectively, in the second and third weeks. “So you can see the price discovery happening,” the sources said, adding:

“It’s not like a handful of shares being exchanged at $300 a share. Each week it’s tens of millions of dollars, a pretty sizable amount.”

Coinbase plans to become a publicly listed corporation after offering a direct listing of its common Class A shares. The firm intends the proposed listing to be on Form S-1 with the U.S. Securities and Exchange Commission in compliance with the registration declaration (SEC).

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If Coinbase were to gain SEC’s approval for listing, the endorsement would add validity to the mainstream narrative of Bitcoin and the crypto economy as a whole. At the time of the press, Coinbase (CBSE) pre-IPO contract traded $384.39 for FTX derivatives.

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