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Coinbase Gives 100 Shares Each to 1,700 Employees Ahead of Public Listing
With Coinbase's stock opening at $250 per share, the gift amounts to a $25,000 thank-you note to each worker.
U.S. cryptocurrency exchange Coinbase has given shares to its employees ahead of Wednesday's highly anticipated direct listing on the Nasdaq stock exchange.
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- A spokesperson for the exchange confirmed to CoinDesk that more than 1,700 employees have been given 100 shares each as a way of expressing the company's gratitude.
- With Coinbase's stock set to open at $250 per share, the gift means Coinbase full-timers are each getting a $25,000 bump in paper wealth.
- On Sunday, Ireland's Business Post reported the handout of shares to company employees of Coinbase's Irish wing. The outlet also said news of the gifted shares was delivered to staff on March 25 during an all-hands-on-deck meeting.
- Based on the reference price published by Nasdaq on Tuesday, Coinbase's pre-trading valuation is $66.5 billion.
Read more: Coinbase ‘IPO’ Isn’t an IPO. Here’s Why That’s Important
Sebastian Sinclair
Sebastian Sinclair is the market and news reporter for CoinDesk operating in the South East Asia timezone. He has experience trading in the cryptocurrency markets, providing technical analysis and covering news developments affecting the movements on bitcoin and the industry as a whole. He currently holds no cryptocurrencies.
