Coinbase Gifts 100 Shares Each To 1700 Employees Ahead Of Public Listing

With COIN stock opening at $250 per share, it amounts to a $25,000 thank-you note to all Coinbase staffers.

U.S. cryptocurrency platform Coinbase has gifted shares to its employees ahead of Wednesday’s hotly-anticipated direct listing on the Nasdaq stock exchange.

A spokesperson for the exchange confirmed to CoinDesk that over 1,700 employees have been given 100 shares each as a way of expressing the company's gratitude.

With COIN stockto open at $250 per share, the gift means Coinbase full-timers are each getting a $25,000 bump in paper wealth.

On Sunday, Ireland's Business Post reported the handout of shares to company employees of Coinbase's Irish wing. The outlet also said news of the gifted shares was delivered to staff on March 25 during an all-hands meeting.

Based on the reference price published by Nasdaq on Tuesday, Coinbase's pre-trading valuation is $66.5 billion.

Read more: Coinbase ‘IPO’ Isn’t an IPO. Here’s Why That’s Important

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