Coinbase Secures $2 Billion in Convertible Notes to Fuel Growth and Expansion

Coinbase, a leading cryptocurrency exchange, has announced a $2 billion capital raise through convertible senior notes, targeting institutional investors. The offering includes two tranches: $1 billion maturing in 2029 and another $1 billion due in 2032, issued under Rule 144A private placement rules. The unsecured notes can be converted into cash, shares, or a combination at Coinbase's discretion. The proceeds are intended to support corporate purposes, including expansion and other strategic initiatives. This move underscores Coinbase's commitment to scaling its operations and solidifying its position in the rapidly evolving crypto market.

Coinbase Announces $2 Billion Convertible Note Offering to Fund Expansion

Coinbase is tapping institutional investors for a $2 billion capital raise through convertible senior notes. The crypto exchange plans to issue two tranches—$1 billion maturing in 2029 and another $1 billion due in 2032—under Rule 144A private placement rules.

The unsecured notes will be convertible into cash, shares, or a combination at Coinbase's discretion. Proceeds are earmarked for corporate purposes including strategic acquisitions, capped call transactions, and debt repurchases. Initial purchasers have a 13-day option to buy an additional $150 million of the 2029 notes.

While conversion terms and interest rates remain undisclosed pending pricing, the move signals Coinbase's aggressive growth strategy amid recovering crypto markets. The notes will rank equally with existing unsecured debt, offering investors seniority in the capital structure.

Coinbase Expands Altcoin Offerings with Three New Listings

Coinbase continues to diversify its cryptocurrency portfolio with the addition of three new altcoins. Euler (EUL), Mamo (MAMO), and Succinct (PROVE) are set to join the platform, each bringing unique attributes and network affiliations. EUL, an Ethereum-based token, will debut on August 6, while MAMO operates on the BASE network. PROVE, also Ethereum-based, carries an experimental tag due to its volatility risks.

Market reactions were immediate, with EUL spiking 30% post-announcement before retracing. The move underscores Coinbase's strategy to capture trading volume by expanding asset diversity, even as Bitcoin faces expected August price pressures—recently dipping from $112,866 to $112,650.

Coinbase Simplifies Web3 Onboarding with Embedded Wallets SDK

Coinbase has launched a new tool within its Coinbase Developer Platform (CDP) designed to streamline the integration of self-custodial wallets into applications. The Embedded Wallets SDK eliminates traditional friction points by offering built-in features like crypto onramps, token swaps, and a 4.1% annual yield on USDC balances.

Unlike conventional wallet solutions that rely on browser extensions or seed phrases, the SDK enables seamless onboarding via email, SMS, or OAuth. Developers maintain full control over the front-end experience while bypassing custody complexities and compliance burdens.

The infrastructure leverages Coinbase's institutional-grade systems, including secure key management and recovery services. Future support for smart contract accounts positions this as a comprehensive solution for Web3 builders across DeFi, gaming, and creator platforms.

"Users don't want to think about wallets. They just want great apps," the company noted, underscoring the industry's shift toward accessibility without compromising security.

BlackRock Offloads $664M in Bitcoin and Ethereum Amid ETF Outflows

BlackRock has liquidated $664 million worth of Bitcoin and ethereum as market-wide ETF outflows intensify. The sell-off coincides with a broader crypto downturn, with Bitcoin slipping 2% and Ethereum tumbling 4% in 24-hour trading.

Blockchain tracker Lookonchain revealed BlackRock moved 101,975 ETH ($372M) and 2,544 BTC ($292M) to Coinbase Prime in batch transactions. Arkham Intelligence data shows the transfers occurred in systematic increments - 10,000 ETH and 300 BTC per transaction - mirroring outflows from BlackRock's ETF products.

The iShares bitcoin Trust (IBIT) recorded $292 million in outflows, matching the exact value of transferred BTC. This institutional unwind follows weeks of price weakness across digital assets, testing recent gains.