Cryptocurrency

2024

Bitcoin

April

<a href="https://bitcoinworld.co.in/coinbase-announced-private-offering-of-1b-bond-sale/" title="Coinbase Announced Private Offering Of $1B Bond Sale" rel="noopener noreferrer nofollow"></a>
Cryptocurrency exchange Coinbase Global, Inc, has announced a private offering of $1 billion bond sale which will be due in 2030.
In an announcement, Coinbase said the private offering is only open to those investors who are classed as “qualified institutional buyers.”&nbsp;
Bonds are a type of security sold by corporations, as a way of raising money from investors. When a firm needs to raise capital, issuing bonds is one way to do it.
“Coinbase also expects to grant the initial purchasers of the notes a 30-day option to purchase up to an additional $150.0 million principal amount of notes solely to cover over-allotments.&nbsp;
The notes will be senior, unsecured obligations of Coinbase, will accrue interest payable semi-annually in arrears and will mature on April 1, 2030, unless earlier repurchased, redeemed or converted,” said the firm in a press release.
See Also: <a class="row-title" href="https://bitcoinworld.co.in/coinbase-users-furious-at-support-after-facing-withdrawal-delays/" aria-label="“Coinbase Users Furious At Support After Facing Withdrawal Delays” (Edit)" rel="noopener noreferrer nofollow">Coinbase Users Furious At Support After Facing Withdrawal Delays</a>
<h3 id="span-style-font-weight-400-taking-a-leaf-out-of-microstrategy-s-book-span">Taking A Leaf Out Of Microstrategy’s Book</h3>
Previously MicroStrategy has raised capital in the same way by announcing a similar offering.&nbsp;
On March 8, MicroStrategy confirmed it had completed its previously announced offering of 0.625% convertible senior notes due 2030.&nbsp;
The aggregate principal amount of the notes sold in the offering was $800 million.
MicroStrategy announced another seismic Bitcoin purchase of $800 million at an average price of $68,377 per coin.&nbsp;
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 MicroStrategy has acquired an additional 12,000 BTC for ~$821.7M using proceeds from convertible notes &amp; excess cash for ~$68,477 per <a href="https://twitter.com/hashtag/bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#bitcoin</a>. As of 3/10/24, <a href="https://twitter.com/search?q=%24MSTR&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$MSTR</a> hodls 205,000 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a> acquired for ~$6.91B at average price of $33,706 per bitcoin. <a href="https://t.co/YayyKtpz8d" rel="noopener noreferrer nofollow">https://t.co/YayyKtpz8d</a>
 — Michael Saylor<img src="https://s.w.org/images/core/emoji/14.0.0/72x72/26a1.png" alt="⚡" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@saylor) <a href="https://twitter.com/saylor/status/1767158870294605904?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">March 11, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
The new purchase was funded using proceeds from the $700 million convertible note offering. MicroStrategy owns 205,000 Bitcoin (BTC).
<h3 id="span-style-font-weight-400-coinbase-files-lawsuit-against-sec-span">Coinbase Files Lawsuit Against SEC</h3>
It is proving to be a busy week for Coinbase.&nbsp;
On Monday, it emerged that Coinbase had filed a lawsuit against the Securities and Exchange Commission (SEC), seeking a court directive for the regulatory authority to establish clear guidelines for the cryptocurrency sector.
In the lawsuit <a href="https://assets.ctfassets.net/c5bd0wqjc7v0/4k2YQLr5PQcDksJwda4yid/7e458652c5c696e886d16faa9a65a154/Coinbase_v._SEC_Brief_for_Petitioner.pdf" rel="noopener noreferrer nofollow">detailed</a> in their March 11 court submission, Coinbase challenged the SEC’s lack of formal rulemaking for the crypto sector, asserting that the agency’s actions hindered the industry’s development and clarity.
See Also: <a class="row-title" href="https://bitcoinworld.co.in/bitcoin-exchange-relai-integrates-lightning-network-for-its-100000-european-users/" aria-label="“Bitcoin Exchange Relai Integrates Lightning Network For Its 100,000 European Users” (Edit)" rel="noopener noreferrer nofollow">Bitcoin Exchange Relai Integrates Lightning Network For Its 100,000 European Users</a>
<h3 id="span-style-font-weight-400-sec-s-absence-of-digital-asset-rulemaking-span">SEC’s Absence Of Digital Asset Rulemaking</h3>
The filing criticized the SEC for its passive stance on crypto regulation, arguing that the absence of specific rules has left the sector navigating a regulatory grey area.
“For years the SEC indicated that it had little statutory authority over digital assets and that what authority it did have was unclear,” stated Coinbase.&nbsp;
“Market participants responded by investing heavily in a now two-trillion-dollar industry and built their businesses in compliance with relevant agencies’ regulatory frameworks.”
<blockquote>
 Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
</blockquote>
#Binance #WRITE2EARN
The post <a href="https://bitcoinworld.co.in/coinbase-announced-private-offering-of-1b-bond-sale/" rel="noopener noreferrer nofollow">Coinbase Announced Private Offering Of $1B Bond Sale</a> appeared first on <a href="https://bitcoinworld.co.in" rel="noopener noreferrer nofollow">BitcoinWorld</a>.

Coinbase Announced Private Offering Of $1B Bond Sale

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