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.
Yuri MolchanHowever, 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.
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Vladislav Sopov
Arman Shirinyan
Dan Burgin