Coinbase Stock Goes Public

Squawk Pod
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Automatic TRANSCRIPT

Mace goes public. The crypto currency exchange debuted yesterday via direct listing. On the nasdaq. I direct there. It was a big one. It's honestly a remarkable sight to see largest direct listing ever largest company that is exposed to the crypto space to go public and a remarkable first day of trading for joint base here in its first day of trading coin basis market cap at one point exceeded one hundred billion dollars so around the same size as city grouper honeywell and we larger than the like starbucks. For example it closed day down fourteen percent from its opening price with its market cap sitting at nearly eighty six billion dollars so for some perspective that's larger than the new york stock exchanges parent company and three times larger than the nasdaq itself. It'll go down in history next to facebook and airbnb is one of the largest tech. Debuts effort the hoopla around a massive new hundred billion dollars listing crypto companies. this could be a watershed moment for crypto but why well for one coin basis debut makes direct link between the capital markets and the crypto economy. It has an app easy us with a straightforward interface. Not too scary for newcomers. It's what some are hoping flood to the mainstream before it gets there here really to the mainstream. Let's cover the basics. Cryptocurrency is a virtual currency. Bill easing blockchain technology. Alleger or database records transactions across a decentralized network of devices rolls. Right off the tongue. Now no single computer is trusted with all this information. If you're making payments mastercard or pay pal. Money is changing hands. Electronially like with crypto but paint how payments are one tied to the value of the us dollar or some other fiat currency the pound the euro and to their owned and operated by a single actor instead crypto uses. Its own store

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