Coinbase is forgoing an IPO and will go public via direct listing when it launches. The expected price is $200, putting it at about a $75 billion market cap.
Considering Coinbase had an $8 billion valuation in 2018 when Bitcoin was hovering around $6k and volume was much lower, it is possible that the market will end up trading Coinbase much higher.
Regardless of price, the timing could not be better with the recent Robinhood shinanigans.
We will keep you updated as to when it plans to go public.