Coinbase Gives 100 Shares to Each Employee Ahead of Direct Listing

In anticipation of a direct listing on Nasdaq, the cryptocurrency exchange Coinbase distributed 100 shares to each of its 1,700 full-time employees. CoinDesk reports.

Nasdaq set a reference price for COIN at $250. At that price, each employee received $25,000.

Traders on FTX value Coinbase at nearly $150 billion, and COIN shares at more than $500. At that price, each employee received more than $50,000.

The exact value of the gift will be determined by the market during COIN trading on Nasdaq, which opens on April 14 at 16:30 MSK.

As reported, Binance will add to the listings the Coinbase Stock Token (COIN), backed by a portfolio of real shares from a U.S. exchange.

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