The trading platform originally reported a $ 1.5 billion issue of securities maturing in 2028 and 2031. The funds raised by the crypto exchange will be spent on developing new products and hiring employees.
Coinbase, the largest cryptocurrency exchange in the United States, will increase the volume of private placement bonds due in 2028 and 2031 to $ 2 billion, according to Reuters .
According to the newspaper, the company’s management made such a decision due to high demand. Initially, the trading platform planned to issue securities for $ 1.5 billion.
Coinbase will 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 was 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 15, on the US premarket, the shares are traded at $ 242 per share.
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