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Cryptocurrency exchange Coinbase opened trading on Wednesday at $381 per share, giving it a fully diluted market value of around $102 billion.

Why it matters: This is a slight premium to the most recent private trades for Coinbase stock, and more than 50% higher than the reference price set last night by the Nasdaq.

The big picture: Coinbase's public listing has been among the most anticipated in recent years, with expectations it will garner a massive market cap. 

Go deeper: Cryptocurrency giant Coinbase heads to Wall Street

Coinbase opens at $102 billion valuation on first day of public trading

Coinbase's public listing has been among the most anticipated in recent years.

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Cryptocurrency exchange Coinbase opened trading on Wednesday at $381 per share, giving it a fully diluted market value of around $102 billion.Why it matters: This is a slight premium to the most recent <a class="gtmContentClick" data-vars-link-text="private trades" data-vars-click-url="https://www.axios.com/coinbase-valued-100-billion-direct-listing-9b43e316-7ff7-4f6a-a1db-4dc2481a93ee.html" data-vars-content-id="fe7532b6-4e54-42dc-97af-09ce9c68760a" data-vars-headline="Coinbase opens at $102 billion valuation on first day of public trading" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/coinbase-valued-100-billion-direct-listing-9b43e316-7ff7-4f6a-a1db-4dc2481a93ee.html" target="_self">private trades</a> for Coinbase stock, and more than 50% higher than the reference price set last night by the Nasdaq.

After a record economic expansion, the coronavirus pandemic sent the U.S. economy into a recession as unemployment soared to staggering heights. The country now faces urgent questions about how much stimulus is needed for reeling consumers and businesses, and what a recovery might look like.

Economy & Business

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