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Coinbase Raises Size of Its Debt Offering to $2 Billion

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Wed, 09/15/2021 - 07:43
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Yuri Molchan
Largest US-based crypto exchange Coinbase has upsized its debt offering by another $500 million
Coinbase Raises Size of Its Debt Offering to $2 Billion
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As reported by Reuters, Coinbase Global has added another $500 million to the size of its debt offering. Now the total amount is $2 billion. The reason for upsizing it is market interest, according to the source.

Coinbase plans to use the raised funds to improve product development, as well as for potential acquisitions and mergers with other companies in the crypto and financial markets.

Just recently, Coinbase got in hot water with the SEC regulatory agency as it threatened to sue the crypto trading venue over its intention to launch a crypto lending product for customers.

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However, the Investors Service of Moody's has given Coinbase Global a "junk" (noninvestment) debt-issuer rating due to an uncertain regulatory environment and strong competition.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.