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Coinbase upsizes debt offering to US$ 2 billion

Coinbase upsizes debt offering to US$
2 billion

FILE PHOTO: The logo for Coinbase Global Inc, the biggest U.S. cryptocurrency exchange, is displayed on the Nasdaq MarketSite jumbotron and others at Times Square in New York, U.S., April 14, 2021. REUTERS/Shannon Stapleton

U.S. cryptocurrency exchange Coinbase Global Inc said on Tuesday it increased the size of its debt offering to about US$2 billion from previously announced US$1.5 billion, citing market interest.

The offering will be used to invest in product development and potential mergers and acquisitions, the company said.

The fundraising plans come less than a week after Coinbase said U.S. regulators would sue the exchange if it went ahead with plans to launch a program allowing users to earn interest by lending digital assets.

(Reporting by Sabahatjahan Contractor in Bengaluru; editing by Uttaresh.V)

Source: Reuters

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