AUS
NZ
UK
CA
USA
IND
_06_19_2026_12_34_15_139937.jpg)
Source: MinskDesign, Shutterstock
The much-awaited NASDAQ listing of Coinbase, one of the largest cryptocurrency exchanges in the world, will finally take place on Wednesday, April 14. The listed stock will be available under ticker symbol ‘COIN’.
The digital currency brokerage platform co-relates its growth with the bitcoin surge. The company began its crypto-trading platform in 2012, primarily allows its users to send and receive bitcoin.
It has more than 56 million verified users across 100+ countries, as per details on Coinbase website. Its latest quarterly traded volume was US$ 335 billion, representing assets on its platform worth US$ 223 billion. It works in collaboration with 7,000 institutions along with 1,700+ staff members.
Let us look at the giant crypto platform’s financials:
Coinbase Global Inc.
Coinbase estimates profit in the range of US$ 730 million to US$ 800 million for the first quarter of 2021, double from 2020.
In the interim earnings statement released on Tuesday, April 6, it anticipated US $1.8 billion revenue in Q1 2021, outperforming the previous year’s total of US$ 1.3 billion.
The crypto platform has already filed its registration statement with the U.S. Securities and Exchange Commission (SEC), which are approved by the regulator.
The entire crypto industry and investors will be keenly watching Coinbase’s debut, scheduled after a week.
Catalysts Behind Coinbase’s Success
Coinbase’s much-anticipated foray into the stock market comes on the back of unprecedented annual growth for virtual currencies, led by prominent institutional acceptance including Tesla Inc. (NASDAQ:TSLA), Morgan Stanley (NYSE:MS), Goldman Sachs, etc.
The crypto market’s value soared to US$ 2 trillion early this week, a massive tenfold surge compared with a cryptocurrencies market cap of US$ 208 billion a year ago.
Wall Street analysts expect the crypto exchange to hit US$ 100 billion in market capitalization once it goes public. It would be the first listed cryptocurrency exchange in the world.
Image Source: Pixabay.com
According to Forbes, Coinbase Cofounder and CEO Brian Armstrong made a whopping US$ 59.5 million in total remuneration in 2020, surpassing Goldman Sachs CEO David Solomon and JPMorgan CEO Jamie Dimon compensations last year.
Coinbase Stock Price
Coinbase is yet to announce its stock issue price.
However, as per EODHD/Others data, the stocks traded at a weighted average price of UC$343.58 during in the first quarter of 2021.
Previous regulatory filing also indicated that about 114.9 million shares were been registered for trade.
Coinbase Outlook 2021
It did not provide any revenue range for the full year 2021. However, the firm stated it expects meaningful revenue growth this year from its operations. Coinbase might come up with its full-fledged first-quarter results and guidance on the US exchanges after its listing.
