Coinbase Grants Employees 100 Shares Ahead of Public Listing
- According to the reference price set by Nasdaq, the value of share options given to employees could reach $25,000.
- COIN trading is set to begin on 14 April.
Shutterstock
Coinbase, one of the largest cryptocurrency exchanges in the U.S., is set to go public through a Nasdaq listing on Wednesday, 14 April. The Class A common stock of the company will list under the ticker “COIN” and will have a reference price of $250 per share.
Based on the reference price set by Nasdaq, the value of the share options allocated to each Coinbase employee reaches $25,000. The Business Post, an Irish publication, first reported the share distribution during the weekend upon learning that the Irish arm of Coinbase allocated 105,510 share options to its employees. The options vested to the employees are a “thank you” from the company for years of hard work and dedication, a Coinbase spokesperson confirmed earlier today.
Coinbase has previously replaced equity grants to new employees with Restricted Stock Units (RSU), a form of compensation that enables employees to acquire shares once certain conditions are fulfilled. The gift shares were delivered to staff on March 25 during an all-hands meeting and represent a “no-strings-attached” type of grant that carries no vesting plan.
- A little over $13 million in altcoins were sent to crypto exchanges Binance and Coinbase in the past 24 hours, which is in accordance with a September court order.
- The court ordered a phased liquidation process, which allows the bankruptcy estate to sell $3.4 billion worth of digital assets over a certain period of time.
Shutterstock
- Coinbase’s Base blockchain was made available to the public on Wednesday, featuring over 100 dApps and services as part of its ecosystem.
- In order to show its capabilities and promote its mainnet partners, Base has also launched an event called “Onchain Summer” that will allow users to mint exclusive NFTs on the network.
- During an interview with FT, CEO Brian Armstrong said that before the lawsuit a SEC staff member had said that all crypto except BTC was security, and should be delisted.
- When asked how he came to that conclusion, the SEC staff member reportedly said “we’re not going to explain it to you, you need to delist every asset other that Bitcoin”.