April 14, 2021. Coinbase started trading on Nasdaq under the ticker COIN.
It wasn't a normal IPO. Coinbase did a direct listing, meaning no new shares were sold and no bank set the price. The reference price was $250, and the stock opened well above that on day one.
For an industry that spent years being called a fraud by bankers, having an exchange list on the same market as Apple and Microsoft was a milestone nobody could argue with.
Bitcoin was near its cycle high that same week.
Two years later Coinbase was in a lawsuit with the SEC over whether some of its listed tokens were securities. The stock, and the company, went through the same cycle Bitcoin did.
Did that listing change how you saw crypto as a real industry, or did it feel like just another headline?
Personal view, not advice. Do your own research.
#Bitcoin #Coinbase
It wasn't a normal IPO. Coinbase did a direct listing, meaning no new shares were sold and no bank set the price. The reference price was $250, and the stock opened well above that on day one.
For an industry that spent years being called a fraud by bankers, having an exchange list on the same market as Apple and Microsoft was a milestone nobody could argue with.
Bitcoin was near its cycle high that same week.
Two years later Coinbase was in a lawsuit with the SEC over whether some of its listed tokens were securities. The stock, and the company, went through the same cycle Bitcoin did.
Did that listing change how you saw crypto as a real industry, or did it feel like just another headline?
Personal view, not advice. Do your own research.
#Bitcoin #Coinbase