Coinbase Global Inc. fetched an $85b valuation in its stock market debut Wednesday, a watershed moment for an industry that began a decade ago as an experiment in digital money. Shares of Coinbase, the first major bitcoin-focused company to test the U.S. public market, opened at $381 on the Nasdaq Global Select Market. They rose as high as $429.54 in the first few minutes of trading and ended the session at $328.28. Coinbase went public through a direct listing under the ticker symbol COIN.