Coinbase sells $1 billion bond as crypto and the company's stock prices soar
Seizing on a chance to get debt while its stock price is near its 26-month high in the wake of a crypto rally, Coinbase announced plans Tuesday to sell $1 billion in debt to institutional investors.
This move aims to shore up funds to repay its existing debts and cover its corporate costs. The sale of the notes, which would mature in 2030, could add up to $1 billion to the company's liabilities, bringing its debt to $4 billion.
