Analysis

Coinbase's Public Debut Vaults Crypto Further Into Spotlight

Law360 (April 14, 2021, 11:06 PM EDT) -- Coinbase closed with a massive $86 billion valuation on Wednesday, marking the first major U.S. cryptocurrency startup to go public in a landmark listing for the nascent industry, guided by Fenwick & West LLP and financial advisers' counsel Latham & Watkins LLP.

Shares of Coinbase Global Inc. closed at $328.28 in a whipsaw debut on Wednesday. The closing point represented a 31% increase from a reference price of $250 set late Tuesday by Nasdaq. No shares exchanged hands at the reference price, which was only intended to guide investors.

After buy and sell orders were sorted out on Wednesday, Coinbase shares...

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