Coinbase Global : upsizes debt offering to $2 billion
September 15, 2021 at 07:27 am IST
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(Reuters) - U.S. cryptocurrency exchange Coinbase Global Inc said on Tuesday it increased the size of its debt offering to about $2 billion from previously announced $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)
Coinbase Global, Inc. is a holding company of Coinbase, Inc. and other subsidiaries. The Company provides platform, which enables its users to engage in a variety of activities, including discovering, trading, staking, storing, spending, earning and using their crypto assets. The Company offers a suite of products and services that are designed to meet the distinct needs of its three customer groups: consumers, which includes individual retail user customers seeking to discover or trade crypto assets and engage in on chain activities; institutions, which are businesses that include market makers, asset managers, hedge funds, banks, wealth platforms, registered investment advisors, payment platforms, and public and private corporations; developers, which comprise of developers, creators, merchants, crypto asset issuers, organizations and financial institutions, and other groups building decentralized protocols, applications, products, or other services on chain.
COINBASE GLOBAL, INC. 
