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

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

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.