Coinbase has chosen to go public via a direct listing with Nasdaq, with shares of the company currently trading on Nasdaq’s Private Market. The value of Coinbase is up for debate, with numbers ranging from $50 billion to nearly $70 billion. 2020 revenue from the company was $2.3 billion after the company got started slowly back by offering trading only in the more “staid” cryptocurrencies Bitcoin, Bitcoin Cash, Litecoin, and Ethereum.
The move by Coinbase is interesting in that one of its early investors was actually the New York Stock Exchange, the other contender for Coinbase’s entry into the universe of publicly-traded companies. The move is just the latest in a steady stream of crypto- and blockchain-related companies pushing further and further ahead to win the hearts and minds of the general public, and one more step toward mass adoption of crypto as a means of payment, store of wealth, and general investment.