Coinbase plans to raise over $2 billion in a dual-tranche offering to fund future investments and stock buybacks.
News
Coinbase may become the first company in the S&P 500 index to acquire Bitcoin from the proceeds of a private note offering, signaling further capital migration from traditional markets into digital assets.
Coinbase, the world’s third-largest cryptocurrency exchange, Tuesday a $2 billion convertible senior note offering for “qualified institutional buyers,” with $1 billion worth of notes due 2029 and $1 billion due 2032.
“The notes will be senior, unsecured obligations of Coinbase and will accrue interest payable semi-annually in arrears,” the company said in the . The interest rate and conversion terms will be determined upon final pricing.
Coinbase also plans to grant initial note purchasers an additional $150 million principal amount of the 2023 notes and another $150 million of the 2032 notes.
The company said it will use the net proceeds of the offering to cover the costs of the capped call transactions related to the note offering and for general corporate purposes, which may include “working capital, capital expenditures and investments in and acquisitions of other companies, products, or technologies that Coinbase may identify from time to time.”
Related:
Coinbase is the world’s 10th-largest public Bitcoin holding entity, with 11,776 Bitcoin () worth $1.26 billion at the time of writing, to data from BitcoinTreasuries.NET.
The firm 2,509 Bitcoin worth over $288 million during the second quarter of 2025.
Related:
Coinbase’s senior note offering marks a growing trend among crypto-native companies seeking new ways to raise capital from traditional investors.
, the world’s largest corporate Bitcoin holder, was among the first major public crypto firms to popularize fundraising through .
On July 21, Strategy launched an (IPO) of five million shares of a new type of synthetic stock that offers cumulative dividends and will trade at or close to its stated amount of $100 per share.
The new offering was announced two weeks after at-the-market (ATM) offering on July 7, which functions as an equity-raising mechanism designed to enable the firm to sell newly issued shares to buy more Bitcoin.
On July 14, crypto-focused asset management firm a confidential IPO filing with the US Securities and Exchange Commission, ahead of its final public offering.
Magazine:
