Bitcoin News Today: Coinbase raises $2B via dual-tranche notes to fund buybacks and acquisitions

Coinbase Global Inc. has announced a $2 billion dual-tranche convertible senior note offering, a strategic move to fund stock repurchases and potential acquisitions. The offering comprises $1 billion of notes maturing in 2029 and $1 billion with a 2032 maturity. These notes will be senior, unsecured obligations of the company, with interest payable semi-annually in arrears, though the exact interest rates and conversion terms will be finalized at pricing [1].

The transaction also includes a 15% over-allotment option, allowing for an additional $150 million in 2029 notes and $150 million in 2032 notes to be issued to initial purchasers. Coinbase stated that the proceeds will be used to offset the cost of capped call transactions and for general corporate purposes, which may include working capital, capital expenditures, and investments or acquisitions in other companies, products, or technologies [1].

Notably, the capital infusion could enable Coinbase to become the first company in the S&P 500 index to purchase Bitcoin using the proceeds of a private note offering. This move underscores the increasing overlap between traditional finance and digital assets [1]. As of the latest data, Coinbase holds 11,776 Bitcoin, valued at approximately $1.26 billion, making it the tenth-largest public Bitcoin holder globally. In the second quarter of 2025, the company added 2,509 Bitcoin, worth over $288 million, to its portfolio [1].

This capital-raising initiative is structured specifically for qualified institutional buyers, indicating a focus on securing stable, long-term funding sources. The company’s strategic allocation of the proceeds reflects its intent to reinforce its competitive position and expand its product and technological capabilities. The offering highlights Coinbase’s confidence in the long-term potential of the cryptocurrency market, despite recent challenges such as a $223 million outflow from crypto funds, which ended a 15-week inflow streak [1].

Source: [1] Coinbase plans $2B dual-tranche note sale to fund buybacks, acquisitions (https://cointelegraph.com/news/coinbase-2b-dual-tranche-note-sale-fund-buybacks-acquisitions)