Coinbase, a popular US-based cryptocurrency platform, is said to have reached a value of $ 90 billion in a private auction.
The company's shares traded at about $ 90 billion last week, based on $ 350 per share, which is the price at which the stock was traded at auction last Thursday on the Nasdaq Private Market , a division of the Nasdaq that focused on trading stocks in companies before that, according to Bloomberg has reported, citing people with knowledge of the subject.
Moreover, earlier in the auction, some shares were trading at $ 375, which would value Coinbase at close to $ 100 billion.
However, the report noted that private trade is more restricted by typically smaller volumes than public markets, and "not a perfect picture of corporate value." She added that Nasdaq will set a reference price for investors before the direct listing, which depends partly on private trading activity, and these private trades "do not necessarily indicate where the stock will actually be traded."
This auction was the last time shares were sold on the private Nasdaq market before Coinbase went public in late March, sources said.
Also according to Bloomberg, based on company filings and news reports, Coinbase founder Brian Armstrong's stock options could total $ 3 billion [...] from the direct listing of cryptocurrency exchanges as a direction for mega-grants to tech founders in full force. ”
As reported, last year, Armstrong received $ 56 million in stock options earnings plus a $ 1 million salary, in addition to $ 1.8 million in legal and security fees.
Coinbase was submitted for an IPO on February 25, with a $ 1 billion direct listing on the Nasdaq Global Select Market under the symbol COIN. In registration with the US Securities and Exchange Commission (SEC), the company said it had 43 million approved users last year and 2.8 million monthly transactional users, in addition to $ 90 billion in assets on the platform, and a trading volume of $ 456 billion, And more than $ 3.4 billion in total revenue as of December 31.
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