Coinbase shares are set to begin trading on Nasdaq at $340, according to Bloomberg, citing familiar sources. This implies a market capitalization of about $88 billion, based on 261.3 million shares.
This news has already prompted a correction in the COIN/USD futures price on FTX — the price slid to around $470, although Nasdaq had set the reference price at $250 as recently as yesterday.
Update:
According to Reuters, the opening price will be $349.
Update:
According to sources at The Block, the expected opening price has risen to $374.
As of 17:45 Moscow time, trading had not yet begun.
The tokenized COIN shares will be available on Binance.
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