Coinbase worth over $86 billion after going public, sends Bitcoin prices up

A large part of Coinbase's revenues were attributed to fees from rising cryptocurrency prices.


Alfred Lee

15 Apr, 2021

Coinbase worth over $86 billion after going public, sends Bitcoin prices up | BEAMSTART News

Coinbase, one of the world's most popular cryptocurrency exchanges, went public on the Nasdaq yesterday.

The company's stock market debut was done via a direct listing — where no shares were sold ahead of the opening.

Coinbase CEO, Brian Armstrong.

Coinbase worth more than $86 billion 

Founded in 2012, the San Francisco-based firm has over 56 million users across the globe, and an estimated $223 billion in crypto-assets on its platform — 11.3% of the crypto-asset market share.

In Q1 2021, Coinbase drew in over $1.8 billion revenues with profits amounting between $730 million - $800 million as Bitcoin more than doubled in price.

A large part of Coinbase's rise in revenues were attributed to transaction fees when users purchased cryptocurrencies at higher prices.

Coinbase lets people buy and sell cryptocurrencies easily.

Coinbase worth more than $86 billion 

Coinbase's stock opened at $381 per share, up 52.4% from Tuesday's reference price of $250 per share.

The company was valued at $86 billion at the end of Wednesday, with valuations peaking $112 billion during trading hours.

"We're just very grateful to be able to bring transparency to the crypto economy, the ecosystem that we've all been building over the last 10 years," Coinbase Chief Financial Officer Alesia Haas said in an interview.

Latest Jobs

Chief Executive Officer

Healthuno Healthcare India

Chennai, India (इंडिया)

Full Time

Salary Undisclosed

React Native Developer

SegWitz Sdn. Bhd.

Bandar Puteri Puchong, Malaysia

Full Time

MYR 4000 monthly

Affiliate Marketing Manager

Binance

Singapore

Full Time

SGD 2000 — SGD 2500 monthly

Senior Analyst, Product

Carsome

Petaling Jaya, Singapore

Full Time

Salary Undisclosed

Strategy and Growth Lead

Pluang

Jakarta, Indonesia

Full Time

Salary Undisclosed

3D Creative Designer

Nervape

Singapore , Singapore

Full Time

USD 4000 — USD 7000 monthly

Business Development Manager

Tourplus

Kuala Lumpur, Malaysia

Full Time

MYR 10000 — MYR 30000 monthly

Business Development Intern

BEAMSTART

Damansara Uptown, Malaysia

Internship

MYR 400 — MYR 500 monthly

HR Consultant/Recruiter

Fortune Cookie Wisdom Pte Ltd

Remote, Singapore

Contract / Freelance

Salary Undisclosed

Business Development Manager

Lumirous

Kuala Lumpur, Malaysia

Full Time

Salary Undisclosed

BEAMSTART is a hub for everything Startups, Entrepreneurship, and Innovation. Connect with a global community of people, and stay updated with the latest news, events, and opportunities.

 

Download the Community App

Connect with the BEAMSTART Entrepreneurship Community from the palm of your hands. Connect with CEOs/Founders, Investors, Business Leaders, and Professionals. Download below to instantly form partnerships and discover opportunities:

PlayStore ButtonAppStore Button

© 2016 - 2022 BEAMSTART. All Rights Reserved (Legal).