BREAKING: Coinbase will raise $1.5B through a debt offering

Coinbase announced a $1.5 Billion bond sale shortly after the SEC threatened legal action against the company over its lending program.
Coinbase, the largest cryptocurrency exchange, announced September 13 that it will raise $1.5 billion through a debt offering. The firm said that the closing of the offering is subjected to market conditions. The terms of the raise, including the interest rate and redemption provisions, are subject to negotiation between the firm and the initial purchasers. This news comes as Coinbase is under increased scrutiny from securities regulators. Last week, the U.S. Securities and Exchange Commission (SEC), threatened to sue the exchange for its upcoming crypto lending program. Brian Armstrong, Coinbase CEO, pointed out that other crypto firms offer similar lending services to customers.

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