Shares in Coinbase Global jumped by as much as 71 per cent yesterday in a listing hailed as a breakthrough for cryptocurrencies, shifting them from the fringes of global finance to the mainstream.
The digital currency exchange was fleetingly valued at more than $100 billion as trading began in New York. Meanwhile, bitcoin rose to a record high ahead of the highly anticipated debut.
Coinbase’s arrival on the stock market, having obtained regulatory approval, has been deemed a significant milestone for digital currencies, which until recently were treated with widespread scepticism on Wall Street.
Shares in Coinbase rose rapidly to $429.54 as they began trading on the Nasdaq index, before falling back to close at $328.28, 31.3 per cent above their reference price of
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2021-04-14 23:01:00Z
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