National

topics

politics-policy

epstein-files

donald-trump

2026-midterm-elections

immigration

behind-the-curtain

race-and-equity

technology

privacy-tech-regulation

automation-and-ai

tiktok-news

big-tech

social-media

cybersecurity

economy

social-security

inflation

tariffs

federal-reserve

jobs

transportation

business

stock-market-news

retail-news

crypto

media

elon-musk

dealmaking

health

rfk-jr

drug-prices

axios-explains-abortion

public-health

world

israel

axios-explains-ukraine

iran

russia

china

energy-climate

nuclear-energy

climate-energy-policy

climate-change

extreme-weather

alternative-energy

electric-vehicles

science

emerging-tech

biomedicine

newsletters

pittsburgh

atlanta

san-diego

charlotte

boulder

washington-dc

kansas-city

dallas

denver

detroit

des-moines

austin

boston

chicago

cleveland

columbus

houston

indianapolis

miami

nashville

new-orleans

nw-arkansas

philadelphia

phoenix

portland

richmond

salt-lake-city

san-antonio

san-francisco

seattle

tampa-bay

twin-cities

raleigh

huntsville

colorado-springs

axios-local

axios-pro

axios-live

the-axios-show

Pro Rata

Axios Pro Rata

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.

Illustration of gold coins with binary code and the letter "C" against a backdrop of a stock chart

Cryptocurrencies

Top Stories

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.

Top stories & latest news on the Federal Reserve, real-time data, plus the biggest shifts happening in the U.S. and global economy.

Economy

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

From the Valley to D.C., Big Tech players like Facebook, Google and Amazon are under more scrutiny than ever as new technology develops and privacy and antitrust concerns grow in lockstep with companies’ ambitions.

Technology

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

What to read next