Coinbase soars in market debut, valued near $100 billion
By MICHELLE CHAPMAN AND ALEX VEIGA AP Business Writers
Coinbase has made a rousing debut on Wall Street. The digital currency exchange’s stock rising as high as $429, briefly giving it a market value over $100 billion. The company’s listing on a public stock exchange is seen by some as an inflection point for digital currencies, as Coinbase’s fortunes are seen as closely tied to Bitcoin, the most popular cryptocurrency. Bitcoin has topped $63,000, up from $29,000 at the start of the year, and Coinbase said recently that its first-quarter revenue should total around $1.8 billion, exceeding its revenue for all of 2020. Shares of Coinbase are trading on the Nasdaq under the ticker “COIN,”