Coinbase hopes to raise $1.5 billion in bond sale

Coinbase plans to raise $1.5 billion through bond sales, with the proceeds to be used for product development and potential acquisitions.

The cryptocurrency exchange, which went public earlier this year, is looking to issue senior notes due in 2028 and 2031 through a private placement.
The funds will bolster an “already strong” balance sheet with low-cost capital, a statement said.
The funds will be used for general corporate purposes, which may include investments in or acquisitions of companies, products or technologies.