WORK - Coinbase reportedly to list on Nasdaq instead of the New York Stock Exchange

No. 1 U.S. cryptocurrency exchange Coinbase Global (COINB) has reportedly decided to stage its highly anticipated direct listing on the Nasdaq instead of the New York Stock Exchange, which has played host to other hot direct listings in the past. Online publication The Block, which covers blockchain, cited two unnamed sources as saying that Coinbase has decided against going to the NYSE, which in recent years handled direct listings for popular tech names like Spotify (SPOT) and Slack (WORK). The Block had previously reported that Coinbase had chosen the Nasdaq Private Market as a secondary market for its stock, giving pre-IPO shareholders like employees with vested shares a way to sell before the public listing. The Block cited an unnamed source as saying that Coinbase’s stock was recently priced at $200 a share on the Nasdaq Private Market, giving the company an implied $50 billion valuation. However, the publication said

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Coinbase reportedly to list on Nasdaq instead of the New York Stock Exchange