Coinbase heads for $89 bln valuation in Nasdaq debut

Shares of Coinbase Global Inc were set to jump 36% above their reference price in the cryptocurrency exchange's market debut on Wednesday, the latest sign of the surge in interest and trading in bitcoin and other digital currencies.

At 10:12 a.m. ET, the company's stock was indicated to open at $340, up from a reference price of $250 per share.

At the indicated price, the digital asset exchange would be valued at around $89 billion.

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