Coinbase declares $1.5 billion bond sale to bolster its balance sheet

Prominent cryptocurrency exchange, Coinbase made immense news after it managed to get itself listed on Nasdaq. With an array of developments, the exchange managed to stay relevant and on top. Once again, the crypto platform has made it to the headlines after revealing that it intends to raise a whopping $1.5 billion through a debt offering.

Throughout the year, Coinbase was seen making the rounds on Twitter following its tiff with its own customers. Despite this, the crypto platform continued to jump on the progress train. Even though several platforms have come under the scrutiny of regulators, Coinbase has retained itself as the largest cryptocurrency exchange in the United States.

The Securities and Exchange Commission [SEC] of the US did not spare anyone. Just last week, the SEC threatened the exchange. The SEC revealed that it wants to press legal charges over its latest crypto lending feature. While the fervency around this persists, the exchange went on to move to the next level.

Coinbase intends to raise money via a debt offering

In its most recent announcement, the platform stated that it hopes to raise capital in order to bolster its growth as well as its balance sheet. While this move would aid its general corporate purposes, it would also pose beneficial for future investments as well as acquisitions, products along technology of other platforms.

A private offering memorandum would be offered to qualified institutional buyers. The post further read,

“The notes and the related guarantee will only be offered and sold by means of a private offering memorandum to persons reasonably believed to be qualified institutional buyers. [..] Neither the notes nor the related guarantee have been, or will be, registered under the Securities Act or the securities laws of any other jurisdiction, and unless so registered, may not be offered or sold in the United States, except pursuant to an applicable exemption from such registration requirements.”

Sahana Kiran: Experienced Journalist with a demonstrated history of working in the online media industry. Skilled in Photography, Feature Writing, Journalism, Online Journalism, and Web Content Writing. Strong media and communication professional with a Bachelor of Arts - BA focused in Journalism