Coinbase, US’s largest cryptocurrency exchange, makes Nasdaq debut

Analysts expect company to be valued $65bn to $100bn, making CEO and co-founder Brian Armstrong's net worth up to $20bn

The soaring value of cryptocurrencies added another name to the list of the world's wealthiest billionaires on Wednesday with the introduction of Coinbase, the US's largest cryptocurrency exchange, on to the Nasdaq stock exchange.

Brian Armstrong, Coinbase's CEO and co-founder, has a 20% stake in the company which analysts expected to be valued at between $65bn and $100bn. Shares surged 58% when the sale started valuing the company at about $100bn and making his net worth $20bn.