What time will Coinbase start trading? Many people want to know when the crypto exchange, which won’t follow the traditional IPO route, will go public.
The San Francisco-based cryptocurrency exchange is going public today (Wednesday, April 14th) in New York.
Coinbase won’t be following the initial public offering (IPO) route. Instead, it will trade on the Nasdaq exchange via a direct listing, something that Palantir Technologies and Spotify had done in the past.
But what time does Coinbase start trading? Here’s what we know.
What time will Coinbase start trading?
- Coinbase will begin trading on Wednesday, April 14th at an unconfirmed time under the ticker ‘Coin’.
An exact time is yet to be confirmed but it has been rumoured that Coinbase will go public in the afternoon of April 14th.
For instance, Market Watch has reported that Palantir Technologies’ direct listing saw its first trade at 1:30 pm EST in September.
The publication has noted that Coinbase is Nasdaq’s first significant direct listing, with Spotify, Slack and Palantir opting to trade at New York Stock Exchange (NYSE).
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What is Coinbase?
The crypto exchange was founded by Brian Armstrong and Fred Ehrsam in 2012. Brian serves as chief executive officer of the company, while Fred helped to create Coinbase.
Their goal was to make investing in cryptocurrencies more accessible and efficient as cryptos became very popular with investors.
Moreover, the company has gone to become the largest cryptocurrency exchange in the US.
According to Coinbase’s website, there are around 56 million verified users, 7,000 institutions, and 115,000 ecosystem partners in over 100 countries who use the crypto exchange platform.
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Fred Ehrsam talks Coinbase
Ahead of Coinbase’s trading, Fred shared his thoughts on the company’s success over the years.
“When @brian_armstrong and I started @coinbase in 2012, a #bitcoin was worth $6 and only known by a few nerds on the internet. #bitcoin was the crazy idea that the world could have a digital money for everyone. @coinbase had one mission: to make crypto easy to use,” Brian tweeted.
“Today, almost 10 years later, crypto is a sprawling ecosystem quickly redefining money, the financial system, and, ambitiously, the internet itself.”
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