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Coinbase Is Said to Be Valued at $90 Billion in Private Auction

  • Cryptocurrency exchange’s shares privately traded at $350 each
  • Direct listing this month is set to be big first for Nasdaq
Coinbase Sued Over XRP Commissions After SEC Pursues Ripple
Photographer: Tiffany Hagler-Geard/Bloomberg
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Coinbase Global Inc. shares changed hands at a roughly $90 billion value last week, in what could be the final chance for investors to trade its private stock before the cryptocurrency exchange goes public, according to people familiar with the matter.

That valuation is based on $350 a share, the price the stock was trading at on the Nasdaq Private Market auction that ended last Thursday, the people said, asking not to be identified because the information was private.