Investors with tokenized exposure to Coinbase (COIN) shares experienced extreme volatility Tuesday, as the value of their holdings plummeted in a matter of minutes. The selloff took place on FTX, a leading derivatives exchange, where the COIN-USD stablecoin exchange rate fell from a high above $640 all the way to around $420. Three huge red candles highlighted the selloff, as per a screenshot from Bloomberg podcaster Joe Weisenthal. Coinbase tokenized shares are crashing on FTX https://t.co/PygqsjSpWQ pic.twitter.com/cl8k5hHEPX — Joe Weisenthal (@TheStalwart) April 14, 2021 At the time of writing, tokenized Coinbase shares were valued at $445 on FTX. Despite the …

Bitcoin (BTC) and Ether (ETH) have continually surged toward record highs, causing the futures market of Bitcoin to see a substantial increase in volume and open interest. The term “open interest” refers to the total sum of active trades in the Bitcoin derivatives market. Currently, the open interest of the Bitcoin futures market is hovering at historic highs, currently $27.43 billion. Following the Coinbase listing, traders and investors generally anticipate the uptrend of Bitcoin and Ether to continue. But there are also short-term bear cases due to various factors such as a potential “sell-the-news” scenario and an overheated futures market. …

Coinbase CEO Brian Armstrong has addressed the platform’s transaction fees as the company's shares list on Nasdaq today. In a CNBC Squawk Box interview on Wednesday, Armstrong discussed public concerns associated with Coinbase’s massive returns coming from transaction fees. As previously reported, nearly 96% of Coinbase’s entire revenue in 2020 was generated from transaction fees charged to users. When asked about the potential impact of greater competition on transaction fees on Coinbase, Armstrong said that the platform might see some fee reduction in the long term: “We haven't seen any margin compression yet, and I actually wouldn’t expect to see …

Bitcoin (BTC) can surge to $92,000 in the next two weeks and still “only” be matching its past performance, new data claims. In a tweet on Wednesday, PlanB, the analyst behind the stock-to-flow family of Bitcoin price models, noted that despite this week’s gains, BTC/USD still has plenty of energy in it. PlanB focused on Bitcoin’s relative strength index (RSI), a classic metric used to chart the progress of price runs in particular. RSI can give a useful insight into whether Bitcoin is overbought at a certain point in its bull run, while the opposite — oversold — is also …

Major global cryptocurrency exchanges including Binance and FTX have announced the listing of Coinbase’s stock token ahead of its direct listing on Nasdaq. According to an announcement on Wednesday, Binance will list Coinbase’s stock token (COIN) today, allowing its users to trade fractional Coinbase stock on the Binance website. The new stock token will trade against Binance USD (BUSD), Binance’s stablecoin, which is pegged to the United States dollar and issued by Paxos Trust Company. Binance said that Coinbase stock tokens are zero-commission digital tokens fully backed by a depository portfolio of underlying securities representing the tokens. The exchange stated …

Major United States exchange Coinbase’s COIN stock has received a reference price at $250 from Nasdaq ahead of the much-anticipated direct listing on the stock exchange just hours from now. The price is far below the current FTX pre-trading price of $600, albeit on thin 24-hour volume of under $4 million. The exchange is going public via a direct listing instead of an initial public offering, meaning the reference price is not a direct indicator of the company’s market cap. It simply implies a valuation of $65 billion, which is below other estimates ranging between $68 billion and $120 billion. …

Coinbase, the top cryptocurrency exchange in the United States, will soon be a publicly listed company once its COIN stock launches on the Nasdaq stock exchange on April 14. Generally, the sentiment around the listing has been overwhelmingly positive from both the crypto and traditional financial markets. With the date just one day away, analysts have been issuing a variety of perspectives related to how the listing could impact Bitcoin and altcoin prices. Coinbase rally, crypto top? As Cointelegraph previously reported, Coinbase is not actually conducting an initial public offering (IPO). Instead, the exchange is directly listing on the Nasdaq, …

After an extended period of speculation as to when Coinbase would finally go live with its public stock listing, the United States-based cryptocurrency exchange released a blog post earlier this month stating that it had registered with the U.S. Securities and Exchange Commission to hold a direct listing on Nasdaq on April 14. In this regard, Coinbase’s Class A common stock is expected to trade on the Nasdaq Global Select Market under the ticker symbol “COIN.” The cryptocurrency exchange had previously set its eyes on a March listing, however, after signing a settlement deal with the U.S. Commodities and Futures …

Crypto exchange Coinbase intends to go public via a direct listing on April 14, based on recent information. This means shares of Coinbase stock will become available for trading on the Nasdaq, bringing another part of the crypto space into mainstream finance. Confusion can accompany activity in the traditional financial world, though. Companies, accredited investors and other entities engage with stocks and finance in various measures, but what about everyday retail participants? If a retail trader wants to buy Coinbase stock when it lists on the Nasdaq or wants to buy it before the listing day, how do they go …

Hong Kong tech company Meitu has taken the total value of its cryptocurrency holdings to approximately $100 million after the firm disclosed the purchase of an additional $10 million worth of Bitcoin (BTC) on Thursday. Meitu HK, the wholly-owned Hong Kong subsidiary of Meitu Inc (incorporated in the Cayman Islands), acquired 175.67798279 units of Bitcoin for a combined price of $10 million, implying a purchase price of around $57,000 per coin. The purchase was reportedly made using existing cash reserves, based on spot prices on the open market. Last month, Meitu racked up $90 million worth of cryptocurrency purchases split …

Kraken, one of the world’s largest cryptocurrency exchanges, has tentative plans to go public next year, according to CEO Jesse Powell. Powell appeared on a segment on CNBC after Kraken published record-breaking fourth-quarter results, including a surge in trading volumes and new client signups. “The first quarter just completely blew away the entirety of last year,” he said. “We beat last year’s numbers by the end of February. The whole market has really just exploded.” Regarding a potential stock market debut, Powell said 2022 is a likely target for a new listing: “We’re looking at being able to go public …

A wave of selling took command of the cryptocurrency market on Wednesday after Bitcoin’s (BTC) price dropped below $56,000. The market-wide sell-off led to $1.4 billion in liquidations, and some analysts suggested that this could be the final sweep out of overleveraged long traders before Bitcoin can make a run higher to the $70,000 level. One sign that the market had moved ahead of itself over the past week was the rapidly rising Kimchi premium, which was followed by a 7% decline in BTC’s price on Wednesday as traders worried that it might be the signal for a market top. …