Salem Radio Network News Saturday, September 25, 2021

Business

Coinbase upsizes debt offering to $2 billion

(Reuters) – U.S. cryptocurrency exchange Coinbase Global Inc said on Tuesday it increased the size of its debt offering to about $2 billion from previously announced $1.5 billion, citing market interest.

The offering will be used to invest in product development and potential mergers and acquisitions, the company said.

The fundraising plans come less than a week after Coinbase said U.S. regulators would sue the exchange if it went ahead with plans to launch a program allowing users to earn interest by lending digital assets.

(Reporting by Sabahatjahan Contractor in Bengaluru; editing by Uttaresh.V)

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