Coinbase Wants to Raise $1.5B via Debt Offering

The $1.5-billion bond sale takes place as the company faces increased regulatory scrutiny from the US Securities and Exchange Commission.

article-image

Blockworks exclusive art by Axel Rangel

share

key takeaways

  • Interest rates, redemption provisions and other terms of notes were not disclosed in the company’s statement
  • Coinbase Global Inc. (COIN) shares fell on Monday’s news, shedding 2.37% to $242.44, as of press time

Coinbase, one of largest cryptocurrency exchange platforms in the world, announced Monday that it plans to sell $1.5 billion of seven-year and 10-year debt to fund general corporate purposes such as potential acquisitions and future product development.  

The $1.5 billion aggregate principal amount of its Seniors Notes are due in 2028 and 2031, the company revealed in a statement. However, interest rates, redemption provisions and other terms of notes were not disclosed in the press release.

“Neither the notes nor the related guarantee have been, or will be, registered under the Securities Act or the securities laws of any other jurisdiction, and unless so registered, may not be offered or sold in the United States, except pursuant to an applicable exemption from such registration requirements,” the firm said in the statement.

Coinbase declined to comment on the private sale, as of press time. 

The announcement takes place as the Nasdaq-listed crypto company faces increased regulatory scrutiny from the US Securities and Exchange Commission (SEC). Last week, the SEC threatened to sue the company if it launches its forthcoming lending program. The product, known as Lend, will allow users to earn interest on lended assets. 

“As surprised as we were at the SEC’s threat to sue without ever telling us why, we want to be transparent with you about the course of events leading up to it,” Paul Grewal, chief legal officer of Coinbase, wrote in a blog post Tuesday. “A healthy regulatory relationship should never leave the industry in that kind of bind without explanation. Dialogue is at the heart of good regulation.”

The launch will be delayed until at least October as a result of the notice, Grewal added. 

Coinbase Global Inc. (COIN) shares fell on Monday’s news, shedding 2.37% to $242.66, as of press time.

Are you a UK or EU reader that cant get enough investor-focused content on digital assets?Join us in London on November 15th and 16th for the Digital Asset Summit (DAS) London. Use code ARTICLE for £75 off your ticket. Buy it now.

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Research Report Templates.png

Research

Content Delivery Networks (CDNs) represent low-hanging fruit in a massive market ripe for Web3-driven disruption. The global CDN market was valued at ~$28B in 2024, and is projected to surpass $140B by 2034, (18.75% CAGR) underscoring the immense demand for efficient content delivery.

article-image

With $30 million in funding and EverQuest’s creator at the helm, it’s possible, but not guaranteed

article-image

As Satoshi-era wallets saw over $8 billion worth of BTC on the move, Congress is gearing up for “Crypto Week”

article-image

Bitcoin’s runaway success was partly driven by Slashdot

article-image

Blockworks Research data shows that VC spending is back on the rise after a slow May

article-image

After rejecting a bid from the AI cloud-computing startup last year, Core Scientific agreed to be acquired in a deal expected to close by Q4 2025

article-image

Sponsored

Plume’s collaboration with TRON will unlock cross-chain RWA yield for one of the world’s largest blockchain ecosystems