Coinbase staff have reportedly been given a massive windfall as the exchange makes its momentous debut on the stock market.
Every single person in the platform’s 1,700-strong workforce is being rewarded with 100 shares — with a spokesperson telling Decrypt it serves as a “thank you” for their hard work.
Given how the exchange's shares have been given a reference price of $250 for its direct listing on the Nasdaq, this effectively means every full-time employee has been given $25,000 worth of stock.
This could end up being substantially higher depending on how trading fares on the first day, with excitement spilling over into the crypto markets.
Another Batch of Record Highs
Volatility has well and truly returned to Bitcoin, which managed to hit a new record high of $64,863.10 on Wednesday — falling 3.4% to $62,647.88 four hours later.
Around the same time, Ether raced to an all-time high of $2,398.30 — painfully shy of $2,400. This coincides with the arrival of the long-awaited Berlin upgrade, which is designed to make certain types of transactions cheaper than they are at present. Given how the average transaction currently costs $16.09 — 14,527% more than a year ago — any reprieve here would be welcomed.
XRP’s dramatic surge has also showed no signs of slowing down, with the altcoin coming tantalizingly close to $2 in Wednesday trading. It is worth noting that this is some way off XRP’s all-time high of $3.84, which was set more than three years ago.
Binance Coin appears to have been struggling to break new ground as the week continues, with BNB struggling to break $600 since its dramatic surge to $635 on Monday.
Despite the fact that Coinbase is one of its rivals, Binance has announced that it will be listing COIN in tokenized form once it emerges on the Nasdaq.