The more than 1,700 employees of the US exchange Coinbase will all benefit from the Nasdaq IPO. The company grants them 100 COIN shares, with a starting price of $ 250.
" This is just the beginning ". This is how Coinbase CEO Brian Armstrong hails the debut of the crypto exchange on the stock exchange. Remember that the firm opts for this for a direct public offer or direct listing.
True to its philosophy, and to that of crypto more generally, Coinbase chooses to do without intermediaries, as is the case with a traditional IPO. This approach is consistent with the ambition set by his boss.
Coinbase weighs $ 66.5 billion before listing
Increase " economic freedom in the world. Everyone deserves to have access to financial services that can help them build a better life for themselves and their families. Brian Armstrong wrote a few hours before the listing.
But management does not forget its employees either. Indeed, the more than 1,700 Coinbase employees will each receive 100 COIN shares. The announcement to staff dates back to March 25. This "air drop" of shares, and not tokens this time, represents $ 25,000 per employee.
This is only a first prize, however. It corresponds to the price of 250 dollars per share fixed even before the listing. This therefore translates for Coinbase into a pre-trading stock market valuation of $ 66.5 billion.
The performance of the exchange, but also the prices of the main cryptocurrencies, will contribute to the rise in this valuation. However, this IPO comes at an ideal time for Coinbase.
A favorable context for Coinbase
Cryptoasset prices are peaking with total cryptocurrency capitalization exceeding $ 2,000 billion. The first two cryptocurrencies, Bitcoin and Ether, display historical amounts.
The price of the latter has benefited since the start of the week from the prospect of Coinbase's stock market listing. The future growth of the exchange, however, will not only depend on the BTC andETH.
The democratization of crypto-assets, including with institutions, will be one of the main engines of this growth. And this is on the right track thanks to traditional financial giants like PayPal and Visa, for example.