On April 14th, the time had come: Coinbase carried out its Direct Public Offering (DPO). In the slipstream of what is probably the most weighty IPO in the crypto space, the prices of almost all crypto currencies exploded. The news ticker for the Coinbase IPO.
04/23/2021 – 11:29 am: Coinbase course is descending
As reported by the news portal Bloomberg, the US administration under President Joe Biden is planning a massive increase in capital gains tax. Investors reacted in shock – red curves have drawn the prices of almost all stocks and crypto values since the news. Coinbase immediately fell below the US $ 300 mark and closed yesterday’s trading day at a price of US $ 293.45 – a decrease of 5.92 percent compared to the previous day’s close.
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The current market update is also all about the falling prices triggered by the tax shock.
04/22/2021 – 4:11 p.m.: Trading on the German stock exchange continues
After the recent IPO of the crypto trading platform Coinbase, the shock followed yesterday: Deutsche Börse initiated a delisting of the Coinbase share because the company had entered an incorrect LEI code on the stock exchange – share trading would therefore start tomorrow, April 23 put on hold for the time being. However, we have now received the message that Coinbase has submitted the necessary documents. The $ COIN trading can therefore continue unimpaired, as can the news agency Reuters reported.
04/22/2021 – 1:44 p.m.: Trading platform commissions new boss for India
Less than a week after going public, the crypto trading platform Coinbase announced that the company would be hiring a new head of Indian operations. The role is to be taken over by Pankaj Gupta, a former executive at the payment service provider Google Pay. “I will be in charge of developing Coinbase’s Indian technology site,” Gupta said on Twitter. The developer also emphasized that Coinbase had advertised further positions in India.
This comes as a surprise insofar as India has stepped into the limelight again and again in the last few weeks and months through anti-crypto regulation. Meanwhile, Coinbase seems confident that crypto trading in India and South Asia is sustainable.
April 21, 2021 – 3:13 p.m.: Shock: Deutsche Börse is taking Coinbase shares out of the offer for the time being
On April 21, COIN investors received some bad news: Deutsche Börse will suspend trading in Coinbase shares on Friday, April 23, for the time being. The reported the news agency Reuters. Accordingly, Coinbase indicated an incorrect LEI code on the exchange. LEI stands for Legal Entity Identifier. It is a 20-digit code that is used to identify independent legal entities. As stated on the homepage of Deutsche Börse, this LEI number serves on the one hand “to support the supervisory authorities in monitoring and analyzing threats to the stability of the financial markets, on the other hand it can be used by counterparties for risk management purposes.” How the error came about is still unclear. Across from Reuters Deutsche Börse explains that trading in Coinbase shares cannot start again until the crypto exchange has applied for a new LEI number. The price of the Coinbase share has so far taken the news well. At USD 318, COIN was trading almost at the previous day’s level at the time of going to press.
April 16, 2021 – 9:29 a.m.: Coinbase shares close second trading day at USD 322.75
The Coinbase share also survived the second day of trading on the US tech exchange NASDAQ without any major dropouts. With a closing price of 322.75 US dollars, it closed at 1.68 percent less than the previous day, but it is fairly stable at 320-330 US dollars. With a few exceptions, the crypto market also recorded minor losses. Bitcoin, for example, is trading at US $ 61,418.14, around 1.41 percent less than the previous day, but has been able to defend the psychologically important US $ 60,000 mark.
April 15, 2021 – 4:41 p.m.: Coinbase shares start at $ 348.90
The big price explosion, which has been conjured up by some, has so far not taken place, but the Coinbase share is also developing positively at the start of its second trading day. The entry price was US $ 348.90 and is currently at US $ 333.33 around 1.5 percent above the closing price of yesterday’s first trading day of the new share.
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April 15, 2021 – 9:43 a.m .: Coinbase shares closed at $ 328.28
After Coinbase’s shares began trading at $ 381, equivalent to a company valuation of $ 85.8 billion, the price exploded briefly, hitting a daily high of $ 429.54. The company’s valuation at the time of the highest share price was over $ 100 billion.
Shortly thereafter, however, the price fell until it finally closed the trading day on the NASDAQ at $ 328.28.
April 14, 2021 – 5:14 p.m.: Coinbase starting price set
According to matching media reports, the starting price of Coinbase shares will be $ 350. The news agency reports “Reuters“. The company valuation is therefore over 91 billion US dollars and exceeds the targeted starting price of 250 US dollars recently announced by Coinbase, which would have meant a company valuation of 65 billion USD. At the same time, the starting price is well below the around 600 US dollars that were paid for the shares on future exchanges such as the FTX, such as the portal “The Block Crypto”, up until the IPO. reported.
April 14, 2021 – 11:40 a.m .: Coinbase Token on Binance
Binance wants to list Coinbase tokens. In one Blog post the Coinbase competitor writes that users of the crypto trading platform would be able to trade COIN tokens via their platform on April 14th.
April 14th, 2021 – 9:20 am: The information about the Coinbase IPO
In a few hours the time will come when Coinbase, the largest American crypto broker, will go public. The IPO is a direct public offering (DPO) on the US tech stock exchange NASDAQ´ (trading abbreviation: COIN) and not an Initial Public Offering (IPO). Both IPOs differ from one another in certain key areas. A key difference lies, for example, in the holding period for existing shareholders. While an IPO can stipulate a holding period of up to six months, there is none with a DPO. This brings with it certain risks, as investors can sell their stocks directly for quick profit-taking.
April 13, 2021 – 5:34 p.m .: NASDAQ valued at USD 250
NASDAQ has set a target price for Coinbase’s IPO. According to this, a share should change hands for 250 US dollars, which gives the US company a market value of 65 billion US dollars. However, this assessment does not have to be particularly meaningful, because experts also consider a company valuation of 100 billion US dollars and more to be possible. Especially since the average price at which Coinbase shares changed hands before the DPO (e.g. on exchanges such as the FTX) from January 1 to March 15 was $ 343.58. And in view of the current bull market, which is giving many crypto currencies all-time and annual highs, there seems to be no upper limit.
April 9th, 2021 – 11:30 a.m.: Is it worth buying Coinbase shares?
In his Friday comment, BTC-ECHO editor-in-chief Sven Wagenknecht addresses the question of whether a purchase of Coinbase shares ($ COIN) is worthwhile for investors and weighs pros and cons:
April 2nd, 2021 – 11:13 am: The date for the Coinbase IPO has been set
After a long wait and speculation, the time has finally come: Coinbase announces the date of its IPO. In one blog entry The US company confirms that the Securities and Exchange Commission (SEC) has approved the submitted documents. Accordingly, the crypto platform will trade Class A common shares on April 14, 2021 on the NASDAQ tech exchange under the ticker $ COIN. When it went public, Coinbase opted for a direct public offering instead of the more traditional route of an initial public offering. This harbors both risks and opportunities.
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