(Reuters) Major cryptocurrency exchange firm Coinbase Global Inc. has decided to raise its debt offering by a quarter, given the high market interest for the product.
Coinbase decided to hike the offering to about $2 billion, up from $1.5 billion announced earlier this week. This covers senior notes due 2028 and 2031, fully guaranteed by the firm’s wholly-owned subsidiary Coinbase Inc.
Proceeds will be used to boost the company’s balance sheet and invest in the development of future offerings and possible mergers and acquisitions of other firms, products, or technology.
The debt offering comes just days after the company said it was threatened by US regulators with legal action should it push through with its plans to roll out its program that would give users interest gains through lending digital assets.
COIN is up 0.88% premarket.
