"Coinbase's $1 Billion Convertible Notes Sale Sparks Stock Surge"

Coinbase plans to raise $1 billion through a private offering of convertible senior notes, causing its stock to rise by 3%. The notes, maturing in 2030, can be converted into cash or shares of Coinbase’s Class A common stock. This move follows the footsteps of MicroStrategy, which recently offered $600 million worth of convertible senior notes to purchase more Bitcoin. Coinbase, as America’s largest digital asset exchange, is also serving as the custodian and surveillance sharing partner for major fund managers launching spot Bitcoin exchange-traded products, which have seen significant success with over $60 billion in assets under management.