Tag: Coinbase

Scaramucci surprised at lack of banking response to Coinbase listing

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After much anticipation, Coinbase listed on the Nasdaq on Wednesday via a direct listing. Skybridge founder Anthony Scaramucci thinks the event should have been met with more attention from banks.  “What I’m surprised about frankly is there isn’t a wake-up call at the banks, the commercial banks, like there was for the Netscape IPO in 1995 at microsoft,” Scaramucci told CNBC on Friday after noting Coinbase’s connection with Bitcoin, in line with the asset’s growth and technical framework. He added: “Bill Gates thought the internet was a fad. He then…

Cathie Woods’ Ark buys a further $110M worth of Coinbase shares

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Three exchange-traded funds, or ETFs, offered by Cathie Wood’s Ark Invest, including the flagship Ark Innovation ETF, all added further shares in Coinbase Global Inc. (COIN) to their positions on Thursday, April 15. According to a report from Reuters, the Ark Innovation ETF, Ark Next Generation Internet ETF, and Ark Fintech Innovation ETF purchased a combined total of 341,186 shares, valued at $110 million at the close of trading on April 15, with each share valued at $322.75. The previous day, the three ARK funds had together accumulated 749,205 COIN shares,…

ARK buys $246M of Coinbase stock, adds COIN to three ETFs

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Three exchange-traded funds offered by Cathie Wood’s ARK Invest purchased 749,205 shares in Coinbase Global, Inc (COIN) worth roughly $246 million combined. The ARK Innovation ETF (ARKK) now holds 512,535 COIN shares, while the ARK Next Generation Internet ETF (ARKW) purchased 147,081 shares, and the ARK Fintech Innovation ETF (ARKF) bought 89,589. ARK’s funds were not the only ETFs accumulating COIN, with the Amplify Transformational Data Sharing ETF (BLOK) also getting in on the action. BLOK is among the most active ETFs in the crypto space, with seven of its…

Garry Tan’s 2013 investment of $300K in Coinbase is now worth $2.4B

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Garry Tan, a prominent angel investor and the founder of Initialized Capital, was one of the first investors to provide seed funding to Coinbase eight years ago.  Less than a decade later, and after today’s highly anticipated Nasdaq listing for Coinbase’s COIN stock, Tan’s 2013 investment of $300,000 into Coinbase is now worth $2.4 billion. Coinbase debuted on the Nasdaq on April 14 at $381 per share, making it one of the most hyped listings in the U.S. stock market of the year. How did $300,000 become $2.4 billion? In…

Coinbase adds hidden message with political undertones to BTC blockchain on day of IPO

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The crypto exchange, whose CEO has previously dissuaded employees from expressing political views, started its initial public offering off with a message referencing U.S. President Joe Biden’s stimulus package.  According to Coinbase, the crypto exchange had mining pool F2Pool embed the title of a New York Times article in the Bitcoin (BTC) blockchain at 2:05 PM UTC today. The message in block 679,187 refers to the U.S. Congress passing the American Rescue Plan Act of 2021 on March 10 — a bill which set aside $1.9 trillion for measures aimed…

Bitcoin, Coinbase Crypto Euphoria Is Blind To Potential Dollar Reversal

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Today is the day everyone in crypto has been waiting for: popular Bitcoin exchange Coinbase has been publicly listed on the stock market for the first time ever. The entire industry is buzzing, still euphoric from the months of nothing but green candles. However, the euphoria could be blinding market participants to the fact that the dollar could potentially be ready to reverse. Crypto Market Celebrates Coinbase Listing Day With New Bitcoin All-Time Highs “The line separating investment and speculation, which is never bright and clear, becomes blurred still further…

Coinbase stock looks to find its footing at $350 following explosive open

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Shares of digital currency exchange Coinbase (COIN) opened at $381 Wednesday — significantly higher than its pre-listing reference price of $250 — underscoring heightened institutional demand for the crypto-focused stock.  The $381 value put Coinbase’s market capitalization at $99.6 billion on a fully diluted basis. The stock peaked at $429.54 for a gain of 71.8% from the original reference price. It was last seen trading around $350, having gained 43%, according to Yahoo Finance data. It was a volatile first hour of trading for Coinbase as the cryptocurrency exchange went public. The stock…

Coinbase Marks IPO With Memo on Bitcoin Blockchain

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Coinbase has commemorated its public Nasdaq listing by posting a message to the Bitcoin blockchain. Coinbase Refers to Relief Bill Coinbase embedded a message that referred to a New York Times news headline from Mar. 10, 2021 that discussed the U.S. government’s trillion-dollar COVID-19 stimulus plan. The headline reads: “NYTimes 10/Mar/2021 House Gives Final Approval to Biden’s $1.9T Pandemic Relief Bill.” Coinbase asked the mining pool F2Pool to encode the message on block 679,187 of the Bitcoin blockchain, the first block mined after Coinbase was listed on the Nasdaq stock…

Coinbase Hits $103B Valuation in Landmark Public Listing

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Key Takeaways Coinbase’s COIN shares have gone live on NASDAQ. COIN is trading at $395, putting the company’s valuation at $103 billion. The event has been widely celebrated as a groundbreaking moment for the cryptocurrency space. Share this article Coinbase makes history as the first cryptocurrency company to go public.  Coinbase Goes Public in First for Crypto  Coinbase is now live on NASDAQ.  COIN shares were trading at $381 on market open Wednesday, significantly up from the initial $250 reference price NASDAQ set yesterday.  Coinbase filed 261.3 million Common Stock…

Coinbase tokenized shares seem to be in free fall on FTX

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Investors with tokenized exposure to Coinbase (COIN) shares experienced extreme volatility Tuesday, as the value of their holdings plummeted in a matter of minutes. The selloff took place on FTX, a leading derivatives exchange, where the COIN-USD stablecoin exchange rate fell from a high above $640 all the way to around $420. Three huge red candles highlighted the selloff, as per a screenshot from Bloomberg podcaster Joe Weisenthal. Coinbase tokenized shares are crashing on FTX https://t.co/PygqsjSpWQ pic.twitter.com/cl8k5hHEPX — Joe Weisenthal (@TheStalwart) April 14, 2021 At the time of writing, tokenized…