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Coinbase, the Largest Cryptocurrency Exchange in the World

Coinbase, which has no official headquarters, opted to avoid an initial public offering (IPO) and instead directly list its shares on the Nasdaq stock exchange, without relying on Wall Street investment banks serving as underwriters to set the pricing.

Later City News: Coinbase is going to be held widely. “What is fascinating about Coinbase is this is the first way in which individuals can take part in this new market for cryptocurrencies without being subject themselves to the volatility those currencies have,” Michael Wolf, the chief executive officer and co-founder of Activate, a technology consulting firm, said on Bloomberg Television.

Yahoo! Finance reported that such offerings are unusual, and market makers have typically needed hours to determine the appropriate opening price. When Slack, the business communication software, went public via a direct listing in June 2019, it took about two and a half hours to start trading. “The stock opened just after noon,” according to a