Safello, a Stockholm-based cryptocurrency brokerage, is seeing massive demand from investors for its upcoming initial public offering on the Nasdaq First North Growth Market. The company said Wednesday that its planned IPO was oversubscribed by 502 million Swedish krona ($59.3 million), up 1,240% from the planned 40.5 million krona ($4.8 million), Reuters reports. Safello CEO Frank Schuil said that the company expects its listing on the Nasdaq First North Growth Market in Stockholm on May 12. The executive told Cointelegraph that the allocation rules were set in the prospectus, and Safelo followed those rules. “Our approach has been to create …

INX Limited has completed the first-ever Securities and Exchange Commission-approved token sale event via an initial public offering. According to a release issued by the company, the blockchain trading platform raised $85 million in gross proceeds from over 7,200 investors — both retail and qualified institutional actors. Details from the announcement show that the average of investors who participated in the token IPO was 42. As previously reported by Cointelegraph, the SEC-registered INX was looking to wrap up its token IPO before the end of April. The company had previously penciled the end of 2020 as its initial date to …

The $5.3-billion investment trust RIT Capital Partners has acquired a stake in leading crypto exchange Kraken. The London based-trust, formerly named Rothschild Investment Trust, holds ties to the Rothschild banking family of England through chairman Jacob Rothschild. In an April 12 note to investors, James Glass described the exchange as “one [of] the world’s biggest crypto exchanges having been founded in 2011. It has more than 6m clients and is the 4th largest exchange by trading volumes.” Glass suggested the acquisition had one eye on the potential direct listing for the exchange: “According to media reports, Kraken is considering going …

Shares of digital currency exchange Coinbase (COIN) opened at $381 Wednesday — significantly higher than its pre-listing reference price of $250 — underscoring heightened institutional demand for the crypto-focused stock. The $381 value put Coinbase’s market capitalization at $99.6 billion on a fully diluted basis. The stock peaked at $429.54 for a gain of 71.8% from the original reference price. It was last seen trading around $350, having gained 43%, according to Yahoo Finance data. Meanwhile, the technology-focused Nasdaq Composite Index, which listed COIN, was down 0.6% on Wednesday. As Nasdaq reported Tuesday, Coinbase’s reference price does not reflect its …

Galaxy Digital founder and CEO Mike Novogratz compared the listing of Coinbase's shares on Nasdaq today to the dawn of a new age in the adoption of crypto. In an interview with CNBC’s Squawk Box this morning, Novogratz called the long-awaited initial public offering, or IPO, of the major cryptocurrency exchange’s stock shares "the Netscape moment for the cryptocurrency economy." The Galaxy Digital CEO was referring to the tech company behind one of the earliest Internet browsers — Netscape Navigator — whose stock price surged from $28 to $75 in its first day. “This is a really important day for …

Investors with tokenized exposure to Coinbase (COIN) shares experienced extreme volatility Tuesday, as the value of their holdings plummeted in a matter of minutes. The selloff took place on FTX, a leading derivatives exchange, where the COIN-USD stablecoin exchange rate fell from a high above $640 all the way to around $420. Three huge red candles highlighted the selloff, as per a screenshot from Bloomberg podcaster Joe Weisenthal. Coinbase tokenized shares are crashing on FTX https://t.co/PygqsjSpWQ pic.twitter.com/cl8k5hHEPX — Joe Weisenthal (@TheStalwart) April 14, 2021 At the time of writing, tokenized Coinbase shares were valued at $445 on FTX. Despite the …

Major United States exchange Coinbase’s COIN stock has received a reference price at $250 from Nasdaq ahead of the much-anticipated direct listing on the stock exchange just hours from now. The price is far below the current FTX pre-trading price of $600, albeit on thin 24-hour volume of under $4 million. The exchange is going public via a direct listing instead of an initial public offering, meaning the reference price is not a direct indicator of the company’s market cap. It simply implies a valuation of $65 billion, which is below other estimates ranging between $68 billion and $120 billion. …

Crypto wallet provider Exodus has raised more than $59 million in just five days as investors flocked to participate in the public offering. Exodus Movement Inc., a firm based in Delaware, began selling stock on Thursday in a sale that was approved by the United States Securities and Exchange Commission. The shares were listed for $27.42 apiece, with a maximum investment of 2,733,229 shares. According to a report on Monday, the offering will close once the maximum offering amount of $75 million has been reached. The crypto wallet company is already 80% toward reaching that target, with participation from over …

Coinbase, the top cryptocurrency exchange in the United States, will soon be a publicly listed company once its COIN stock launches on the Nasdaq stock exchange on April 14. Generally, the sentiment around the listing has been overwhelmingly positive from both the crypto and traditional financial markets. With the date just one day away, analysts have been issuing a variety of perspectives related to how the listing could impact Bitcoin and altcoin prices. Coinbase rally, crypto top? As Cointelegraph previously reported, Coinbase is not actually conducting an initial public offering (IPO). Instead, the exchange is directly listing on the Nasdaq, …

Robinhood, a popular trading app targeting millennials and other inexperienced investors, has become a major hub for cryptocurrencies, offering further evidence that digital assets are garnering mainstream appeal. On Thursday, the company reported that 9.5 million users traded digital assets on its platform during the first quarter of 2021, a sixfold increase from the previous quarter. Robinhood provides commission-free trading for several major cryptocurrencies, including Bitcoin (BTC), Bitcoin Cash (BCH), Bitcoin SV (BSV), Dogecoin (DOGE), Ether (ETH), Litecoin (LTC) and Ethereum Classic (ETC). It provides real-time market data for nearly a dozen more digital assets. That Robinhood’s crypto business is …

Kraken, one of the world’s largest cryptocurrency exchanges, has tentative plans to go public next year, according to CEO Jesse Powell. Powell appeared on a segment on CNBC after Kraken published record-breaking fourth-quarter results, including a surge in trading volumes and new client signups. “The first quarter just completely blew away the entirety of last year,” he said. “We beat last year’s numbers by the end of February. The whole market has really just exploded.” Regarding a potential stock market debut, Powell said 2022 is a likely target for a new listing: “We’re looking at being able to go public …

The United States’ biggest crypto exchange would have made more money by simply buying and holding Bitcoin (BTC) in 2013. Data circulating on social media reveals that despite Coinbase’s $800-million profits in Q1, the company would still be richer had it used its seed funding cash to buy BTC. Coinbase profits lose out to 2013 hodlers Ahead of its initial public offering on April 14, Coinbase reported bumper revenue this week. At $1.8 billion, Q1 outperformed the entirety of 2020. The numbers became an instant talking point as market participants weigh up the likely impact of the IPO launch. Other …