Coinbase, one of the most popular cryptocurrency exchanges, is going public today. Coinbase was founded in 2012 and is headquartered in San Francisco.
The company allows people to buy, sell, and store cryptocurrencies, such as Bitcoin, Ethereum, and Litecoin. Coinbase has over 35 million users in over 100 countries.
The Coinbase IPO is priced at $250 per share. The company is selling 120 million shares and is expected to raise $30 billion.
This makes Coinbase the largest US tech IPO since Facebook in 2012.
Coinbase plans to list on the NAsdaq under the ticker “COIN.” The company is valued at $68 billion.
This makes Coinbase the most valuable US cryptocurrency company.
The Coinbase IPO comes as Bitcoin prices have surged to new highs. Bitcoin hit a new all-time high of $61,780 today.
Ethereum prices have also surged, hitting a new all-time high of $2,151 today.
The Coinbase IPO is a major event for the cryptocurrency industry. It could pave the way for more mainstream adoption of cryptocurrencies and help legitimize the industry.