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(Bloomberg) — Coinbase Global Inc. is indicated to open at $340 in its Nasdaq debut on Wednesday, a figure that may change before shares start trading.

© Bloomberg The Coinbase logo on a smartphone arranged in Hastings-on-Hudson, New York, U.S., on Monday, Jan. 4, 2021. Coinbase Inc. knew cryptocurrency XRP was a security rather than a commodity and “illegally” sold Ripple Labs Inc.’s tokens anyway, a customer argues in a proposed class-action lawsuit over the commissions the crypto exchange collected.

The largest U.S. cryptocurrency exchange is the latest to go public via direct listing, an alternative to a traditional initial public offering or a merger with a special purpose acquisition company.

The listing’s reference price of $250 per share is not a direct indicator of the company’s potential market capitalization, which will become more clear after the stock starts trading later on Wednesday.

Read more: Coinbase Listing Throws Spotlight on Nasdaq Amid Bitcoin Boom

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