Apr 14, 2021 - Economy & Business

Coinbase's choppy day one

Data: FactSet; Chart: Axios Visuals
Data: FactSet; Chart: Axios Visuals

Coinbase's highly anticipated public listing finished with a bit of a whiff.

What happened: Cryptocurrency exchange platform Coinbase initially blew past a $100 billion valuation — more than Target, Zoom or CVS (for context) — before ending the day around $86 billion.

  • It's still triple the market cap of Nasdaq, which owns the exchange where Coinbase is now listed.

In the meantime: Prices of bitcoin and meme cryptocurrency Dogecoin soared to record highs Thursday.

ğŸŽ§ New episode of Axios Re:Cap ... Coinbase president Emilie Choi on mainstreaming crypto. Listen here.

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