Coinbase, a company that allows people and companies to buy and sell digital currencies, begins publicly trading on Wednesday, after its shares received a reference price of $250 each on Tuesday evening.
Coinbase, which makes money through transaction fees, estimated it took in $1.8 billion in revenue in the first three months of the year as crypto prices soared. On Wednesday, the fervor continued: Dogecoin, a cryptocurrency which started as a joke, jumped to a new high (albeit just 14 cents), and Bitcoin, the largest cryptocurrency, climbed above $64,000 to its own record high.
Shares in blockchain-linked companies also rose in premarket trading. Shares in Bit Digital, a Chinese bitcoin mining company traded in the United States, rose nearly 12 percent. Riot Blockchain rose about 1 percent.
Elsewhere in the Markets
Global stocks drifted on Wednesday as company earnings started to pour in. The S&P 500 dipped slightly after reaching another record on Tuesday. The Stoxx Europe 600 index was slightly higher.
Yields on 10-year U.S. Treasury notes rose 2 basis points, or 0.02 percentage points, to 1.63 percent.
Oil prices climbed. Futures for West Texas Intermediate, the U.S. crude benchmark, rose 1.6 percent to $61.10 a barrel.
JPMorgan Chase fell 1 percent after the bank reported its best first…