Coinbase stock futures rise 9% ahead of Nasdaq listing, valuing firm at $147B

Futures that aim to predict a likely stock price for Coinbase (COIN) following its upcoming Nasdaq direct listing were up some 9% Monday, valuing the company at more than $147B.A futures contract that trades outside the United States on platform German-based FTX was changing hands at $590 shortly before 4 p.m. ET. That estimates Coinbase’s market capitalization at roughly $147.3B, as each contract is supposed to represent 1/250-millionth of the company’s value.Coinbase, a popular platform for trading Bitcoin and other cryptocurrencies, expects to go public this Wednesday via a widely anticipated Nasdaq direct listing.It’s expected to be one of Wall Street’s hottest go-public deals of 2020, if not of all time.