Cryptocurrency (Mar 10, 2021 06:40AM ET)
Coinbase reportedly hits pre-IPO valuation of $100 billion in private auction
Prominent Bitcoin (BTC) and cryptocurrency exchange Coinbase could be headed for an IPO valuation of $100 billion, after shares reportedly sold for up to $375 each in a private auction.
Shares in Coinbase Global Inc. reportedly traded for a price between $350 and $375 per unit on the Nasdaq private auction market last week, giving the company a pre-IPO valuation of between $90–$100 billion, according to a report by Bloomberg. Trading reportedly ended with the share price at $350.