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Coinbase valued at $85.8B in public debut

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Cryptocurrency exchange Coinbase was valued at $85.8 billion after its public debut yesterday.

Shares rose as high as $429.54 on the Nasdaq before reaching a low of $310 per share. The stock had a reference price of $250 per share set on Tuesday, though trading opened at $381 per share.

Coinbase listed its stock directly in lieu of a traditional initial public offering.

Read more from CNBC.

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