Bitcoin Hits $60,000 on Coinbase and Morgan Stanley’s Street Swapping

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Bitcoin briefly surged above $60,000 Friday as the focus shifted on Coinbase and its plans to go public this month alongside Morgan Stanley’s latest pro-crypto securities filing. First Coinbase Coinbase announced late night Thursday that it received approval from the US securities regulator, the Securities and Exchange Commission, to list its share on the Nasdaq via a so-called direct listing under the ticker ‘COIN’ on April 14. In retrospect, a direct listing requires a company to save the money it pays to investment banks instead of raising it in the process. The US cryptocurrency firm, launched in 2012, provides exchange, trading, staking, and custodianship services to its retail and institutional clients. Its presence in more than 100 countries brought about $1.3 billion in revenue and $322 million in profits in 2020. Filings with the SEC show the cost to purchase one Coinbase Global share at a price that would shoot…

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