The world’s first public cryptocurrency exchange will use the funds received to develop new products, hire employees and take over other companies.
Coinbase, the largest cryptocurrency exchange in the United States, announced a private placement of bonds worth $ 1.5 billion due in 2028 and 2031.
Coinbase will discuss the interest rate, early repurchase terms and other bond terms with interested investors.
Coinbase plans to use the funds raised to develop new products and hire employees. Also, the funds can go to the acquisition of other companies. In May of this year, the crypto exchange has already issued bonds for $ 1.25 billion.
In April of this year, Coinbase acquired UK-based analytics platform Skew and integrated its products into its institutional investor platform, Coinbase Prime.
Also in April, Coinbase became the world’s first public crypto exchange – it listed on the NASDAQ (no IPO).
At the peak, the value of the company’s shares reached $ 429.5, then they entered the stage of decline. As of September 13, the shares are traded at $ 242 per share.
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