Coinbase makes its Wall Street premiere today. The largest exchange in the United States (and the second largest in the world) went public on the NASDAQ. In principle, the firm has an initial public offering (IPO) of approximately 100 billion dollars, which puts it at the level of companies such as General Electric, American Express or Goldman Sachs.
The expectation of the firm led by Brian Armstrong was to go public during the first quarter of the year. Although he did not achieve it for a couple of weeks, one can speak of a goal achieved. Coinbase benefited from the latest market jump, which saw Bitcoin (BTC) and Ethereum (ETH) hit new highs in recent hours.
The exchange has more than 56 million verified users, and 6.1 million active users. This number has almost tripled in the last three months, a period in which BTC reached 100% growth and the crypto market surpassed any private company in size.
This morning, multiple referents of the crypto ecosystem expressed their joy at Coinbase’s great leap and expressed it on social networks. Mike Novogratz, CEO of Galaxy Digital, was one of them.
“Great day (and week) for the crypto space. Congratulations to Coinbase on an industry-changing $ 100 billion IPO. It is quite a large number and difficult to imagine just a few years ago. I’m excited for everyone who is a part of this and helped make it happen,” Novogratz wrote on his Instagram account.