It is not the first time Coinbase has tapped debt markets to raise cash, having borrowed more than $1.4b through a convertible note earlier this year. However, it is the first time the company has sought to borrow from more mainstay bond investors. If the fundraising is successful, it would be a watershed moment for the cryptocurrency industry and its ability to access traditional sources of capital.
“This capital raise represents an opportunity to bolster our already-strong balance sheet with low-cost capital,” the company noted in a press release.
https://www.ft.com/content/05ab29a6-74ee-4881-b0fb-6edb614b7273