Coinbase Valuation Spikes above $120 Billion, Ethereum Developers Receive Funds from JP Morgan
Coinbase is now the most valuable exchange after NASDAQ Listing
The U.S.-based cryptocurrency exchange, Coinbase, is now the world’s most valuable exchange, valued at over $120 billion, records immediately after listing shows.
The COIN stock opened at $381, above the reference price of $250.
Coinbase at $250/share means it is valued at less than 10x Q1 annualized revenue.
Wall Street is about to see what crypto degens can do to something they want to own ?
— Pomp ? (@APompliano) April 14, 2021
At this mega valuation, it is worth more than traditional powerhouses like NASDAQ, the Hong Kong Stock Exchange, the London Stock Exchange (LSE), and other global bourses.
From this successful listing, Brian Armstrong–who owns 20 percent of the exchange, is now worth over $20 billion.
Coinbase founder Brian Armstrong will be worth ~$20 billion by end of day (he owns 20% of coinbase).
Prior to starting Coinbase in 2012, he worked at Airbnb and Deloitte.
The fact that someone created that much wealth in such a short time is amazing.
I love the internet
— Sam Parr ⚪️ (@theSamParr) April 14, 2021
Notably, Coinbase is also now worth more than Goldman Sachs, who dismissed Bitcoin last year, saying it wasn’t an asset class.
Coinbase is now worth more than Goldman Sachs, who called #bitcoin "not an asset class" last year.
— Documenting Bitcoin ? (@DocumentingBTC) April 14, 2021
Binance—which is bigger with more reach than Coinbase—and any other cryptocurrency exchange in that regard will list Coinbase’s shares under the ticker symbol, COIN.
#Binance Will List the @Coinbase Stock Token $COIN
➡️ https://t.co/8WCWLvJI9a pic.twitter.com/x6XvADlp52
— Binance (@binance) April 14, 2021
ConsenSys Raised $65 million from JP Morgan, MasterCard, and UBS Bank
ConsenSys, a software development company founded by Joseph Lubin, raised $65 million from among other investors leading global banks and payment processors—MasterCard, JP Morgan, and UBS Bank.
Funds raised would be to accelerate the development of DeFi and deployment of more dApps on the world’s most adopted public chain.
So @jpmorgan and @Mastercard just gave @Consensys $65 million to accelerate #Ethereum
— tomuky.eth ⟠ (@tomuky) April 13, 2021
Meanwhile, ETH prices are sprinting higher as the network activates the Berlin Hard fork, further enhancing the network.
? The Ethereum Berlin network upgrade happens in less than 20 hours!
? There are 2 viewing parties!
⌚️ Countdown: https://t.co/AGBSld5jXG
(Links in tweets below)
???
— Hudson Jameson (@hudsonjameson) April 14, 2021
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