Cryptocurrency exchange Coinbase said in its blog announcement that it will start trading April 14, after receiving approval from the US Securities and Exchange Commission for its direct listing. The company will be traded on the Nasdaq Global Select Market under the ticker symbol "COIN".
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It is expected that the price of a share at the start of trading can range between $300-$350, while the company's market capitalization will turn out to be about $100 billion. On April 6, Coinbase is due to release its first quarter financial results, which will directly impact its initial valuation.
Coinbase's announcement comes after the exchange hired Morgan Stanley lawyer Ian Rooney as its new Head of Enterprise Compliance. According to the exchange's spokesman Elliott Suthers, Coinbase also hired Molly Abraham as an Associate General Counsel for Commercial.
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