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Crypto firm Coinbase valued at more than oil giant BP

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Coinbase, which runs a leading trading platform for Bitcoin, hits nearly $100bn in stock market listing.

US-based Coinbase, which makes money primarily by charging transaction fees, has benefited from the surge in demand.

The company's value has increased more than ten-fold since 2018 when investors reckoned it was worth $8bn in a private funding round. "There does appear to be a little bit of a slow march towards acceptability," said Jane Foley, senior currency strategist at Rabobank.

 

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The Emperor's new clothes... Psst, there's nothing but air in BTC, just in case you're wondering. But go ahead sink your money, 🐳 love you

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