Coincheck Debuts on Nasdaq Today with Initial Market Cap of $1.25 Billion

Coincheck, a major cryptocurrency exchange in Japan, debuts on Nasdaq today, the 11th.

According to The Block's report on the 11th (local time), Coincheck went public through a SPAC merger with Thunder Bridge Capital. Based on the merger transaction value, Coincheck's initial market cap is estimated at $1.25 billion.

Coincheck stated, "Through our Nasdaq debut, we can continue to engage with global investors and talent, accelerating our business expansion based on this."

In 2018, Coincheck experienced a hacking incident where approximately $530 million worth of NEM tokens were stolen, but they reimbursed all funds to about 260,000 users using their own capital.