24/7 Cryptocurrency News

Breaking: Coinbase Unveils Plans To Offer $1B In Convertible Senior Notes

Nasdaq-listed crypto trading firm Coinbase Global Inc has unveiled its plans to offer $1 billion worth of Convertible Senior Notes
Published by
Breaking: Coinbase Unveils Plans To Offer $1B In Convertible Senior Notes

Highlights

  • Coinbase is offering Convertible Senior Notes in latest debt offering
  • The Convertible Notes is worth $1 billion and is slated to be due by 2030
  • Coinbase now joins MicroStrategy, a Bitcoin-affiliated firm that has offered such debt in recent times

American cryptocurrency exchange Coinbase Global Inc. is planning to explore convertible senior notes as the new means of raising funds.

Advertisement

The Coinbase Convertible Senior Notes

Coinbase hinted at its plan to offer up to $1 billion in convertible senior notes which would be due in 2030. 

Per Coinbase’s plan, the notes will be put up for sale to institutional investors through a private offering. Upon its launch, the exchange is hoping to grant a 30-day option that would allow those who make purchases of up to an additional $150 million of the securities to cover over-allotments. 

The notes can be converted into a number of forms including cash, shares of Coinbase’s Class A common stock, or a combination, but at the company’s election. In the long run, Coinbase expects to use the proceeds to either repay at maturity or repurchase or redeem prior to maturity, its outstanding 0.50% convertible senior notes, 3.375% senior notes, and 3.625% senior notes.

Meanwhile, the outstanding 0.50% convertible senior notes are not due until 2026, neither is the 3.375% due till 2028 nor the 3.625% till 2031. Some of these net proceeds may be utilized for general corporate purchases like working capital and costs related to the capped-call transactions. Coinbase hopes to engage in a capped-call transaction with a minimum of one of its customers. 

The capped-call transactions will suffice for those Coinbase common stocks underlying the notes from the beginning.

Advertisement

Like Coinbase Like MicroStrategy

Business intelligence software company MicroStrategy recently made an acquisition of more Bitcoin, bringing its total holding to around 203,000 BTC. 

Each Bitcoin was purchased at an average price of $68,477, bringing the total acquisition to approximately $821.7 million. Apart from keeping up with its Bitcoin strategy, another intriguing update is that the acquisition was made using proceeds from convertible notes and excess cash. 

Only a few days before the latest purchase, MicroStrategy had upscaled its notes sale to a total of $700 million. The notes included convertible senior notes due in 2030. Also, in MicroStrategy’s case, initial purchasers were granted the option to purchase an additional $100 million worth of notes within a 13-day window following the issuance.

With Coinbase and MicroStrategy exploring this debt offering option, it is fast becoming a trend to watch out for.

Advertisement

Share
Godfrey Benjamin

Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture. Follow him on X, Linkedin

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • Bitcoin News

Breaking: Bitcoin Hits New ATH Above $125k as ‘Uptober’ Kicks Off in Full Force

The Bitcoin price has hit a new all-time high, after staging a monstrous rally since…

October 5, 2025
  • Bitcoin News

99.3% of Bitcoin Supply in Profit, Analyst Warns of Short-Term Correction

Bitcoin (BTC) is in profit on almost all of its supply, leading to discussion by…

October 5, 2025
  • 24/7 Cryptocurrency News

Pro-Crypto Mike Selig Emerges As CFTC Chair Frontrunner, Gains Ripple CLO’s Endorsement

Pro-crypto Mike Selig is reportedly the frontrunner to become the next chair of the U.S.…

October 4, 2025
  • 24/7 Cryptocurrency News

‘Every Crypto ETF You Can Imagine’: Expert Predicts Flurry of Filings After REX-Osprey’s 21 Applications

Nate Geraci, president of Novadius Wealth Management, has predicted that several crypto ETF filings could…

October 4, 2025
  • Bitcoin News

Robinhood Lists Strategy’s Bitcoin-Backed Stocks, Boosting Saylor’s BTC Credit Model

Bitcoin-backed stocks of Strategy can now be accessed on Robinhood. This represents a significant move…

October 4, 2025
  • Bitcoin News

Bitcoin ETFs See 2025 Record Weekly Inflows of $3.2B as BTC Eyes New ATH

The Bitcoin ETFs have seen a huge turnaround this week, recording their largest weekly inflows…

October 4, 2025