- Coinbase’s Value Exceeds $100 billion After the IPO
- Biden Prepares to Sanction Russia
- E.U. Receives a Boost in Vaccine Supplies
Coinbase’s Value Exceeds $100 billion After the IPO
Coinbase’s Value Exceeds $100 billion After the IPO
Coinbase, the largest U.S. cryptocurrency exchange, made history by going public on Nasdaq on Wednesday and rising past $100 billion in market capitalization. Cryptocurrency exchange Coinbase shares closed the first trading day at $328.28. At the end of the first trading day of the crypto money exchange, its size reached $85.8 billion.
With a reference price of $250, Coinbase’s shares started trading at $381. The company’s market value reached up to $112 billion, with stock prices rising rapidly to $429. The stocks then fell below the starting price at $310.
Coinbase, which started to be traded on the stock exchange with the code “COIN,” became the first major crypto money company to go public in the USA. The company put an IPO on the target after gaining the trust of cryptocurrency investors and becoming dominant in the markets. Coinbase’s IPO marks a turning point for cryptocurrencies as well, according to many experts.
The Coinbase IPO, which also affected the risk appetite in the global markets, also created fluctuations in the crypto money market. Coinbase, which started its first trading day with a rapid rise, dropped 14% below the opening price, pulling the crypto coins down.
While Coinbase’s highly anticipated public offering was realized, the stock closed the day with a loss. Coinbase, which caused cryptocurrencies, especially Bitcoin, to rally before the public offering, this time pioneered the sales. Bitcoin, which closed at 62,384 with a 1.28% decline due to the effect of the sale on Coinbase, recorded a limited rise in the first transactions of the new day.
Coinbase’s public offering was deemed important in terms of including cryptocurrencies in the mainstream investment arena. The cryptocurrency industry has reached $2 trillion in less than ten years. Bitcoin alone has grown to more than 1 trillion % in volume after gaining 800% last year.
Biden Prepares to Sanction Russia
Biden Prepares to Sanction Russia
U.S. President Joe Biden prepares to impose sanctions on Russian institutions and individuals for hacking SolarWinds and interfering with U.S. elections.
According to Bloomberg News, the sanctions list, which is expected to be announced soon, includes government and intelligence personnel and nearly 20 organizations. The U.S. is also expected to expel 10 Russian officials and diplomats from the country.
In a call with Russian President Vladimir Putin on Tuesday, Mr. Biden said the U.S. would “act firmly” in defense of its national interests.
Mr. Biden also proposed a meeting with Mr. Putin “in a third country” to allow the leaders to find areas to work together.
In a televised interview last month, he replied “I do” when asked if he thought Mr. Putin was a “killer.” He said the days of the U.S. “rolling over” to the Russian president were done.
Last year, cyber-security researchers discovered a breach in SolarWinds software, which enabled cyber-criminals to access 18,000 government and private computer networks.
Russia is suspected of being behind the attack, according to intelligence officials. The hackers obtained access to digital files from the Treasury, Justice, and State Departments, among others. In February, Microsoft president Brad Smith said the SolarWinds hack was “the largest and most sophisticated attack the world has ever seen.”
The U.S. also plans to sanction Moscow for suspected meddling in the 2020 presidential election in the United States. According to a study released last month by U.S. intelligence agencies, Putin likely guided efforts to sway the election in favor of then-presidential candidate Donald Trump and away from Biden.
E.U. Receives a Boost in Vaccine Supplies
E.U. Receives a Boost in Vaccine Supplies
The E.U. will get an extra 50 million Covid vaccines from Pfizer by the end of June, Ursula von der Leyen has announced.
“This is a milestone that we can be proud of. Of these 100 million vaccinations, more than a quarter are second doses — which means that we have now more than 27 million people, fully vaccinated,” she added.
On the other hand, the E.U. has started negotiations to buy an additional 1.8 billion doses of BioNTech-Pfizer Covid-19 vaccine.
Stating that they are working to support the vaccination process, Von der Leyen said, “I am pleased to announce that we have reached an agreement with BioNTech-Pfizer to speed up vaccine delivery. BioNTech-Pfizer will deliver 50 million additional doses of vaccine in the second quarter.”
On the other hand, the E.U. has started negotiations to buy an additional 1.8 billion doses of BioNTech-Pfizer Covid-19 vaccine.
“This contract envisages the delivery of 1.8 billion additional doses of vaccine between 2022 and 2023,” said Von der Leyen that they started negotiations today for the third vaccine procurement contract with BioNTech-Pfizer.
Due to reports of unusual blood clots among people who took the shot, Johnson & Johnson has decided to postpone its European deliveries. After six confirmed cases of clots among the more than 6.8 million J&J doses administered in the U.S., U.S. health regulators advised pausing its use.
AstraZeneca has faced similar setbacks, with many countries now restricting its use to the elderly following isolated cases of blood clots in younger populations, some of which were fatal. Following a potential connection to rare cases of blood clots, Denmark has been the first country to ban the use of AstraZeneca’s Covid-19 vaccine permanently.
