Coinbase Global revealed an eye-popping valuation on Wednesday, reflecting the craze over cryptocurrencies.
The largest U.S. digital currency exchange said private transactions valued the company at around $68 billion ahead of a planned stock market listing. That represents a nearly 13-fold jump in its valuation in the space of a few months and underscores how the perceived value of Coinbase has rallied in lock-step with the surge in the price of bitcoin.
A successful listing by Coinbase, whose business is primarily focused on digital currencies, would represent a landmark victory for cryptocurrency advocates vying for endorsement for a sector that has struggled to win the trust of mainstream investors, regulators and the general public.
It could also be seen as a tacit regulatory approval of assets traded on Coinbase's platform.
And that platform is global: the company boasts more than 43 million users in more than 100 countries.
Video Transcript- Coinbase Global revealed an eye-popping valuation on Wednesday, reflecting the craze over cryptocurrencies. The largest US digital currency exchange said private transactions value the company at around $68 billion ahead of a planned stock market listing. That represents a nearly 13-fold jump in its valuation in the space of a few months, and underscores how the perceived value of Coinbase has rallied in lockstep with a surge in the price of Bitcoin.
A successful listing by Coinbase, whose business is primarily focused on digital currencies, would represent a landmark victory for cryptocurrency advocates vying for endorsement for a sector that has struggled to win the trust of mainstream investors, regulators, and the general public. It could also be seen as a tacit regulatory approval of assets traded on Coinbase's platform. And that platform is global. The company boasts more than 43 million users in more than 100 countries.
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