- Coinbase gifted 100 worth of shares to each of its full-time employees.
- The unexpected gift was awarded ahead of the exchange’s public listing.
- Each share is worth about US$250.
Coinbase total numbers of full-time employees
Coinbase exchange startled its 1,700 employees with 100 shares each. The share gift that was given comes ahead of the exchange’s public listing on Nasdaq today, April 14.
Even so, only full-time employees were eligible for the said share giveaways. It means that all of the contractors and other part-time staff that perform auxiliary duties did not get any shares.
Also, the Coinbase has always been generous to its employees. In fact, the exchange has awarded their new workers with Restricted Stock Units (RSU) in the past.
Moreover, according to Securities and Exchange Commission filing, Coinbase employees make up the majority of its current Coinbase shareholders. This is particularly significant as Coinbase intends to go public using a direct listing.
What is it to the coinbase shareholders?
A direct listing is contradicting an initial public offer in that the listing company does not issue new shares. The public investors can even only buy the listing of company’s shares from current shareholders. To this end, Nasdaq has laid down the reference price for Coinbase shares and that is around US$250 each a share.
Thus, in light of this, Coinbase employees also stand to become about $25,000 richer thanks to this generous surprise gift.
However, once the shares go public via an incoming public offer or IPO, the price could go either up or down as volatility enters depending on market demand.
In addition to that, Coinbase is also known as the cryptocurrency kingmaker. This is because a Coinbase listing usually makes the crypto’s price surge or go “to the moon” or “lambo” as the famous phrase in the cryptocurrency sector goes. The phrase is also used in stock market terminology.
As such, the exchange going public could lead to greater crypto adoption and mainstream acceptance.
Coinbase became popular due to the increase in terms popularity of cryptocurrency in the financial sector and even to the public.
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