Summary: According to Bloomberg News, citing people familiar with the matter, Coinbase Global (NASDAQ: COIN) increased its first junk bond issuance from $1.5 billion to $2 billion.  Sources said the bond issuance has a demand of at least $7 billion. Coinbase expects to raise funds at lower than expected costs, with a 7-year yield of $1 ...

According to Bloomberg News, citing people familiar with the matter, Coinbase Global (NASDAQ: COIN) increased its first junk bond issuance from $1.5 billion to $2 billion. 

Sources said the bond issuance has a demand of at least $7 billion. Coinbase expects to raise funds at lower than expected costs, with a 7-year yield of $1 billion of 3.37% and a 10-year yield of $1 billion of 3.625%. 

This strong demand shows that investors are increasingly confident in cryptocurrency-based businesses as an investment.

By Mary Liu