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Coinbase may become the first company in the S&P 500 index to acquire Bitcoin from the proceeds of a private note offering, signaling further capital migration from traditional markets into digital assets.
Coinbase, the world’s third-largest cryptocurrency exchange, announced Tuesday a $2 billion convertible senior note offering for “qualified institutional buyers,” with $1 billion worth of notes due 2029 and $1 billion due 2032.
“The notes will be senior, unsecured obligations of Coinbase and will accrue interest payable semi-annually in…
