Coinbase to raise $1.25B via debt securities for institutional investors
With shares in the Nasdaq-listed cryptocurrency exchange continuing to underperform, Coinbase is seeking a $1.25 billion cash injection from institutional investors. United States-based cryptocurrency exchange Coinbase seeks to raise $1.25 billion in funds through a proposed private offering for institutional buyers. According to an announcement on May 17, the offering will be in the form of convertible senior notes due 2026, available only for institutional investors who manage a minimum of $100 million in securities issued by other companies. These investors are defined as such pursuant....
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Coinbase announced a $1.5 billion bond sale shortly after the SEC threatened to sue the firm over its lending program. Coinbase, the largest cryptocurrency exchange in the United States, is planning to raise $1.5 billion via a debt offering, the company officially announced Sept. 13.The Nasdaq-listed crypto exchange is looking to use the capital raised to further grow the company’s balance sheet for general corporate purposes as well as potential investments and acquisitions of other companies, products or technology, Coinbase said.The news comes amid Coinbase facing increased attention....
The New York City-based bitcoin exchange Coinsetter has filed to raise up to $1.5 million in venture capitalist funding with the United States Securities and Exchange commission. The company's CEO, Jaron Lukasiewicz, said that Coinsetter was only planning to raise $1 million, but would like the flexibility to raise more funding as the exchange prepares to launch to the public. It is currently in private beta. The company managed to raise about half-million USD back in April of this year, and this next round will certainly go a long way in improving the service, which hopes to attract....
Like every other major industry, some of the largest cryptocurrency and blockchain-based companies have big plans to go public and raise additional capital from institutional and retail investors alike. Probably the most notable upcoming IPO is Coinbase, which is expected to open the doors for other companies to follow assuming all goes as expected. One could argue the timing for crypto IPOs has never been better as institutional investors flood the market and bring an […]
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....
Over the last year, institutional investors have been flocking toward crypto assets like bitcoin and after Microstrategy’s initial bitcoin purchase, the trending institutional demand for crypto started swelling. On Tuesday, the San Francisco trading platform Coinbase published a study that details how the company helped the firm One River Asset Management make “one of the largest digital asset trades in history.” Not too long ago, Microstrategy purchased bitcoin (BTC) for treasury reserves, and ever since then, a great number of well known firms have swapped cash and....