Crypto Giant Coinbase Registers 115M Shares For Trading

Law360 (March 17, 2021, 7:47 PM EDT) — Cryptocurrency exchange Coinbase on Wednesday registered nearly 115 million shares ahead of its highly anticipated direct listing and disclosed prior trading prices of its shares in private markets, indicating that the Fenwick-led company was recently valued at about $68 billion.

Coinbase Global Inc., advised by Fenwick & West LLP, said it plans to make 114.9 million Class A shares available for resale when it goes public, according to a registration statement filed with the U.S. Securities and Exchange Commission. A date for Coinbase’s public debut was not provided.

The company is going public through a direct listing, an alternative to a…

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