Coinbase’s IPO is great for its business as bitcoin hits record high

Coinbase’s IPO is great for its business as bitcoin hits record high
John Detrixhe
·3 min read

For crypto fans, Coinbase’s $86 billion IPO is a stamp of validation for bitcoin and the nascent world of digital assets. Coinbase’s bottom line is poised to be a major beneficiary of that optimism. The eight-year-old crypto exchange didn’t raise any money through the direct listing, which is fine for Coinbase because it has more than $1 billion on its balance sheet.