Coinbase announces $1.5 billion private debt offering

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Crypto exchange Coinbase intends to conduct a private offering of $1.5 billion in senior notes due 2028 and 2031, according to a blog post.

"Coinbase intends to use the net proceeds from the offering for general corporate purposes, which may include continued investments in product development, as well as potential investments in or acquisitions of other companies, products, or technologies that Coinbase may identify in the future," the blog post said.

In May, the exchange previously said it planned to conduct a similar $1.25 billion offering — which came just a month after the exchange went public via a direct listing.

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