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Coinbase upsizes debt offering to $2 bln

Credit: REUTERS/SHANNON STAPLETON

U.S. cryptocurrency exchange Coinbase Global Inc said on Tuesday it increased the size of its debt offering to about $2 billion from previously announced $1.5 billion, citing market interest.

Sept 14 (Reuters) - U.S. cryptocurrency exchange Coinbase Global Inc COIN.O said on Tuesday it increased the size of its debt offering to about $2 billion from previously announced $1.5 billion, citing market interest.

The offering will be used to invest in product development and potential mergers and acquisitions, the company said.

The fundraising plans come less than a week after Coinbase said U.S. regulators would sue the exchange if it went ahead with plans to launch a program allowing users to earn interest by lending digital assets.

(Reporting by Sabahatjahan Contractor in Bengaluru; editing by Uttaresh.V)

((Sabahatjahan.Contractor@thomsonreuters.com; within U.S. +1 646 223 8780 outside the U.S. +918067492635;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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