Crypto exchange Coinbase has gone public in New York, in what Coinbase’s chief executive Brian Armstrong said “is a milestone, but it’s not as important as every new day in front of us.”

Nasdaq set a reference price for Coinbase shares at $250 earlier on 14 April, which would have implied a valuation of $65bn for the business. The exchange ended up debuting at $381 per share, giving it an overall market capitalisation of $99.6bn.