Coinbase plans $2bn debt raise four years after previous offering

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  • Source: Dapnet
  • 08/05/2025
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Coinbase, the biggest US-based crypto exchange, plans to raise another $2 billion worth of debt days after posting a lacklustre earnings report.

The offering, which is only open to qualified institutional buyers, comprises $1 billion of so-called Convertible Senior Notes due in 2029, and another $1 billion of notes due in 2032.

The firm says it will use the funds raised for general corporate purposes, such as investments in and acquisitions of other companies, and to buy back shares and previously issued debt.

It comes as Coinbase’s second quarter earnings report revealed a 25% drop in income from the previous quarter, 6% below analysts’ expectations.

Coinbase shares dropped 10% on the news, adding to a 24% drawdown since the stock hit an all-time high of above $444 on July 18.

Coinbase declined a request for comment.

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Coinbase conducted a similar debt offering in September 2021, raising $2 billion by issuing senior notes due in 2028 and 2031.

The round was oversubscribed, with at least $7 billion in offers for the bonds, Bloomberg News reported at the time.

Source: DL News
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