Friday, 2 April 2021

Coinbase gets all-clear from SEC, setting stage for landmark crypto listing

Coinbase Global, the largest US cryptocurrency exchange, has received approval from the US Securities and Exchange Commission (SEC) to list its shares on the Nasdaq, paving the way for what will be a landmark victory for cryptocurrency advocates. Bitcoin heads for worst weekly loss in months The company, which plans to go public through a so-called direct listing, expects to list its shares on the Nasdaq under the ticker ‘COIN’ on April 14. In a direct listing, no shares are sold in advance, as is the case with an initial public offering (IPO). The company’s share price is determined by orders coming into the stock exchange. Advocates argue it is a better way to price new stock rather than an IPO. Visa moves to allow payment settlements using cryptocurrency In a regulatory filing last month, Coinbase said its stock in the private market traded at a weighted average price of $343.58 in the first quarter of 2021 through March 15, a nearly 13-fold jump in its valuation to around $68 billion in the space of a few months.

from Latest Technology News, Tech News Pakistan | eTribune

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