Why Coinbase could be worth as much as $100 billion. Here's who is getting rich off of it.
CBSN
The public listing of cryptocurrency company Coinbase could redefine Wall Street blockbuster paydays —and shine a light on the big money being made, even if measured in good old-fashioned dollars, in the booming market for digital currencies.
Shares of the cyptocurrency company are going public through a direct listing and not a traditional IPO, which means the company is not selling shares to raise money but just listing the shares to trade publicly for the first time. Trading is expected to begin Wednesday. Some Wall Streeters are predicting the company's stock market value could reach $100 billion within a day. Coinbase's bankers, however, set what's called a reference price, or their best official guess for where the company's stock could start trading, of $250 a share. That would give the company a market cap of $65 billion.
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