The first stock of digital currency exchange is coming! Bitcoin goes up in the short term

Source: Wall Street heard that before the U.S. stock market on Thursday, February 25, coinbase, a cryptocurrency trading platform, officially issued a prospectus to apply for direct listing on NASDAQ. If the company is finally completed, it will be the first digital currency exchange to be listed. After the news came out, bitcoin rose nearly 2000 dollars in the short term, and the price rose to 52000 dollars. Ethereum surged up $1660 / piece, up more than 2% in the day. Founded in 2012, coinbase is the largest digital currency trading platform in the United States. With the continuous rise of bitcoin price, the trading volume of cryptocurrency also continues to increase, which makes crypto exchange the biggest beneficiary, and investors’ interest in listing coinbase is also increasing. According to the prospectus, In terms of user data, the number of certified users of coinbase will reach 43 million in 2020, and the monthly transaction users will reach 2.8 million. Coinbase will be listed directly, and class A shares will be directly listed on the NASDAQ Exchange market. According to the prospectus, the company will distinguish between Class A and class B shares. The main difference between the two sides is the number of voting rights: one class a share will receive one vote, one class B share will have 20 votes, and class B will have the right to convert into the same number of class A shares at any time. Due to the direct listing, there is no definite data for the overall valuation of the company. But coinbase shares are trading at $303 a share on the NASDAQ private market, according to coindesk. That means the company’s total market value is about $77 billion. If listed at that price, coinbase would be worth more than the NYSE’s parent, intercontinental, which currently has a market value of about $62.6 billion.

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