"Coinbase's $1B Convertible Notes Strategy Amid Stock Surge"

Coinbase, a leading US-based cryptocurrency exchange, plans to raise $1 billion through senior convertible notes, targeting institutional investors, to repay existing debt and for general business purposes. The offering comes as Coinbase stock enjoys a two-year high and follows a similar strategy by MicroStrategy, a major Bitcoin investor. The move allows Coinbase to raise capital while delaying stock dilution and reflects the broader cryptocurrency market rally despite a slight dip in stock price following the announcement.