Coinbase Is Set To Increase Corporate Bonds Amid Rising Demand
In a recent development, Coinbase issued a junk bond, and the market seemed to be hungry for the instrument. Currently, the US crypto exchange is recording more demands for these bonds every day. With these demands, the crypto exchange’s sales have grown from $1.5B to $2B. Bonds are fixed investments that yield interest monthly. But when we talk of junk bonds, investors make higher returns but face higher risks as well. Companies usually issue junk bonds to raise capital very fast for a major project. Corporate Bond Orders Keep Rising The orders have continued to troop in for the....
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“Nothing about Coinbase changed this week, we are the same company we were yesterday, or a year ago. If anything, we are in an even stronger position given our balance sheet,” assured Coinbase CEO Brian Armstrong. The price of Coinbase’s junk bonds are tanking amid an underwhelming performance in Q1 and fears over what could happen in the event of a bankruptcy. According to bond trading data from Trace Bonds, both of Coinbase’s junk bond offerings have dropped roughly 17% and 5.2% since its Q1 report on May 10 to sit at $63 and $62.31 at the time of writing. Overall they are down 20% and....
Coinbase has sold $2 billion worth of corporate bonds in an offering that saw $7 billion worth of bids placed. Leading U.S.-based cryptocurrency exchange Coinbase has seen enormous demand for its junk bond offering, with the firm increasing the size of the sale by one-third from $1.5 billion to $2 billion.According to Economic Times, at least $7 billion worth of orders were placed in competition for equal quantities of seven and 10-year bonds, offering interest rates of 3.375% and 3.625% respectively.The publication cites an anonymous source as claiming the interest rates were cheaper than....
Amid trouble with the U.S. Securities and Exchange Commission (SEC), global cryptocurrency exchange Coinbase unveils its plan to raise $1.5 billion by selling bonds.
Coinbase Plans to Issue $1.5 Billion in Bonds
Coinbase Global Inc. (Nasdaq: COIN) announced Monday “its intention to offer, subject to market conditions and other factors, $1.5 billion aggregate principal amount of its Senior Notes due 2028 and 2031 in a private offering.”
The company explained that the notes “will be fully and unconditionally guaranteed by Coinbase Inc.” and....
MicroStrategy is meeting with public companies on Thursday to talk about Bitcoin and its merit as a store of value. MicroStrategy, a $6.37-billion business intelligence conglomerate in the United States, will meet with public companies on Thursday to discuss Bitcoin (BTC).Michael Saylor, CEO of MicroStrategy, said that professionals from over 1,400 firms are joining the event. “If you are interested in the legal considerations firms face while integrating Bitcoin into their corporate strategy, you are not alone," Saylor wrote. "We have professionals from more than 1400 firms joining us....
According to a Bloomberg report, MakerDAO, one of the prominent decentralized lenders in cryptocurrency, has reaffirmed its decision to invest billions of dollars in US government bonds. This strategic move has propelled its governance coin, MKR, to reach its highest level since April 2022, outperforming other major cryptocurrencies, including Bitcoin (BTC). MKR has experienced a remarkable surge of 77% this quarter, emerging as the best-performing cryptocurrency of the year. Despite a modest decline of 3.9% to $1,452 on Friday, the coin has nearly tripled in value. MakerDAO Doubles Down....