Coinbase plans to sell $1 billion in bonds to cover debt and operating costs

BlockBeats news, on March 13, Coinbase announced plans to sell $1 billion in bonds to institutional investors on March 12, 2024. The move is intended to raise funds to repay existing debt and cover the company's operating costs. Coinbase will offer convertible senior notes that will mature in 2030 and be convertible into Coinbase Class A shares, cash, or a combination of both. The bond issuance could increase the company's total liabilities to $4 billion.