Crypto Exchange

Coinbase (COIN) announced the pricing of $1.3 billion each in 0% Convertible Senior Notes due in 2029 and 2032 through a private placement, exceeding initial expectations. Net proceeds are projected to be $2.56 billion, potentially rising to $2.96 billion if underwriters fully exercise their options. Coinbase intends to use the funds for general corporate purposes, including strategic investments and potential share repurchases. The notes are senior, unsecured obligations with conversion prices representing premiums over Coinbase’s August 5, 2025 closing price.