Coinbase Global Inc (COIN)

[Ringrock]

Surprised it’s not up another 10% just on the news…

[Jayplayer]

Hope people didn’t get shook on Friday. This is good news

[Minddoc7]

EXCELLENT NEWS: Coinbase cleared in lawsuit over crypto transactions
https://cointelegraph.com/news/coinbase-cleared-in-lawsuit-over-crypto-transactions

[WolfOfGrnStreet]

They already loaded the boat. I expect another shake out before then

[Minddoc7]

" Analysts Unveil Coinbase Stock Price Targets Ahead of bitcoin Halving " The Street 4/4/2024
https://www.thestreet.com/investing/stocks/coinbase-analysts-unveil-price-targets

[Minddoc7]

Today's Investor's Business Daily: " Coinbase Stock A Buy As The Crypto Exchange Expands To Canada
"https://www.investors.com/news/coinbase-stock-a-buy-crypto-exchange-expands-into-canada/

[BottomBounce]

Goldman Sachs CIO says crypto isn’t ‘an investment asset class’ $COIN

[Investors3]

BTC and ETH Suffer Sharp Decline on Tuesday; Key Crypto Market Events in April, and More News
April 02 2024 - 03:02PM
IH Market News

Key events in the crypto market in April

April promises to be a milestone for the cryptocurrency sector, bringing impactful events. We’ll see everything from the reduction in mining rewards for Bitcoin (COIN:BTCUSD) and Bitcoin Cash (COIN:BCHUSD), which affects coin supply and spurs speculative interest, to significant regulatory matters. The legal battle between the SEC and Coinbase, along with the pending judgment for Binance’s founder, Changpeng Zhao, might set new standards for crypto regulation. Moreover, the anticipated launch of the EigenLayer mainnet could revolutionize Ethereum’s security and efficiency. Economic indicators like the US CPI for March are also expected to illuminate economic trends influencing the crypto market. Therefore, this month is pivotal for understanding the sector’s evolution and its interplay with the broader economic and regulatory landscape.

Bitcoin experiences a decline with the strengthening dollar and rise in Treasury yields

Bitcoin (COIN:BTCUSD) has seen a decline of more than 6% in the last 24 hours, marking a total drop of about 7% in two days, affected by the strengthening dollar and the rise in US Treasury yields. Over the past 12 months, the digital asset has accumulated a gain of 130%. The leading cryptocurrency has moved away from its historical peak of March 14 by 11%, while Ether (COIN:ETHUSD) also followed the downward trend. This trend occurs at a time of strong economic data in the US and market readjustments regarding Fed policy.

Challenges and expectations of Bitcoin’s halving

Scheduled for this month, the next Bitcoin halving (COIN:BTCUSD) will decrease the block reward from 6.25 to 3.125 BTC, marking a critical moment for the sector. This adjustment in cryptocurrency issuance aims to strengthen its scarcity and potentially its value, but also poses challenges to mining operations, influencing profitability and network security. The industry anticipates this event with expectations of significant changes in mining dynamics and the Bitcoin ecosystem as a whole.

Arkon Energy invests in advanced mining with 27,700 new machines from Bitmain

Arkon Energy, a prominent figure in Bitcoin mining, has announced the acquisition of 27,700 state-of-the-art mining machines from Bitmain, including the T21 and S21 models, with deliveries starting from June 2024. The company, which is expanding from hosting to self-mining, expects to significantly increase its operational efficiency, especially after the next halving, aiming to become one of the most efficient miners in the market.

March records record revenue for Bitcoin miners

In March, Bitcoin miners achieved historic revenue, exceeding $2 billion between block rewards and fees, surpassing the previous peak of $1.74 billion in May 2021. Approximately $85 million came from transaction fees, while the bulk, $1.93 billion, originated from block rewards. This success is attributed to intense activity on the network and the increase in bitcoin value.

Explosive growth of Bitcoin ETFs in March

In March, spot Bitcoin ETFs saw their trading volume jump to $111 million, nearly triple the $42.2 billion from February, marking a growing interest in these financial instruments. Following a month full of trading since its launch on January 11, this increase highlights the attraction to these new cryptocurrency-based products. ETFs issued by Grayscale (AMEX:GBTC), BlackRock (NASDAQ:IBIT), and Fidelity (AMEX:FBTC) dominate the scene, with Grayscale’s GBTC ETF observing a significant decline from 619,000 BTC to 333,619 BTC. The funds from BlackRock and Fidelity, in turn, reached approximately $18 billion and $10 billion in assets under management, respectively, solidifying the relevance and growth potential of Bitcoin ETFs.

Growth and risks of restaking on Ethereum according to Coinbase

Coinbase Global (NASDAQ:COIN) highlights in a report restaking as an emerging pillar in decentralized finance (DeFi) on Ethereum (COIN:ETHUSD), foreseeing its crucial role in the ecosystem’s infrastructure. Despite its promise, the report points to potential financial and security risks. The EigenLayer protocol, essential for restaking, is praised for its ability to generate Ether rewards for validators, but concerns revolve around the risks associated with liquid restaking tokens (LRTs) and restaking strategies. Coinbase cautions on the importance of risk-adjusted rewards, emphasizing that restaking drives innovation but requires caution.

MakerDAO considers significant investment in USDe; Aavechan suggests removing DAI as collateral on Aave

MakerDAO (COIN:DAIUSD) is considering allocating 600 million DAI to support USDe through Morpho Labs, signaling confidence in Ethena’s synthetic dollar. The decision coincides with the launch of Ethena Labs’ ENA token. Analyses indicate demand for USDe pools within the MakerDAO ecosystem, highlighting the potential for yield and the attraction of ENA tokens. The strategy aims for benefits such as lower liquidity risk and reinforcement of Ethena’s insurance fund.

Marc Zeller, leader of Aavechan, proposes to the Aave DAO to remove DAI from its loan collaterals due to MakerDAO’s decision to invest 600 million DAI in USDe and sUSDe via Morpho Labs. This proposal aims to protect Aave (COIN:AAVEUSD) from potential risks associated with future decisions by MakerDAO and Ethena’s performance, especially considering the significant DAI allocation that could affect its stability and security as collateral.

Telegram boosts advertising economy with TON blockchain

Telegram has increased the adoption of its blockchain technology, TON, by initiating payments in toncoin (COIN:TONCOINUSD) for ads and crypto remunerations for content creators, expanding activity on The Open Network (TON Blockchain). With the new functionality, a record 156,000 TON wallets were activated, indicating significant progress for the advertising economy on the platform. This movement suggests initial success in Telegram’s cryptographic implementation, promising a circular and innovative ecosystem in digital advertising.

Tron’s defense questions SEC’s jurisdiction in court case

The TRON Foundation (COIN:TRXUSD) and its founder, Justin Sun, urged a NY court to dismiss an SEC lawsuit, arguing the SEC lacks jurisdiction over international defendants. They contend that the SEC cannot apply US securities laws to predominantly overseas activities. The case, initiated by the SEC in March 2023, involves allegations of fraud and market manipulation. The defendants argue that the claims are baseless and criticize the SEC’s attempt to globally regulate the digital asset market without clear congressional authorization.

The US government moves $2 billion in Bitcoin to Coinbase

The US government transferred about 30,175 BTC, valued at approximately $2 billion, to a wallet associated with Coinbase (NASDAQ:COIN), sparking discussion in the crypto sector. The operation, highlighted by detective ZachXBT, included a preliminary test, indicating caution. The action occurred during a Bitcoin dip, which later slightly recovered, raising questions about the government’s future plans for these assets.

Binance establishes first board of directors

In response to regulatory violations in the US, Binance formed its first board of directors, led by former ambassador Gabriel Abed, to reshape its governance. Including internal members and two externals, this step aims to enhance compliance and corporate structure after a $4.3 billion court settlement with US authorities, signaling a significant change in direction for the largest cryptocurrency exchange.

Crypto.com starts operations in South Korea

Crypto.com announced the start of its retail trading services in South Korea on April 29, taking over from the closing exchange OK-BIT. Entering the South Korean market, known for its strict regulation, marks a significant step for Crypto.com, which will offer cryptocurrency and NFT trading, excluding institutional clients. The company seeks local banking partnerships to expand its services, following anti-money laundering and market manipulation requirements.

Singapore tightens regulations for the cryptocurrency sector

Singapore is tightening rules for cryptocurrency companies and digital tokens, with the Monetary Authority of Singapore expanding the sector’s regulation starting April 4. The new guidelines include increased control over digital asset custody, remittances, and international transfers, aiming for greater security and transparency. Affected companies will have specific deadlines to comply with the new requirements, aiming for consumer protection and financial stability.

Avail and dWallet join forces for programmable Bitcoin on rollups

Avail, a blockchain designed to integrate Web3 and enhance data accessibility, has partnered with dWallet Network to enable programmable Bitcoin use in its ecosystem. Anurag Arjun, co-founder of Polygon (COIN:MATICUSD), established Avail as an independent entity, aiming to launch its mainnet by the end of 2024. This innovative collaboration allows for the programmable management of BTC on Avail’s rollups, offering a more secure and efficient method that preserves user ownership without the need for risky bridge solutions. This advancement aims to unify the Web3 experience, addressing fragmentation and promoting a multi-chain rather than cross-chain approach.

Tether supports innovation with donation to BTCPay Server

The stablecoin issuer Tether (COIN:USDTUSD) contributed $100,000 to the BTCPay Server Foundation, reaffirming its support for the Free Software and Open Source movement. This donation highlights Tether’s commitment to driving the development of innovative digital payment solutions. BTCPay Server, an open-source payment processing platform, is crucial for adoption and customization by global merchants, promoting the democratization of access to digital financial technologies.

FixedFloat and Tether respond to suspicious activities

FixedFloat, a decentralized exchange based on Ethereum, faced suspicious withdrawals totaling $2.8 million, detected by Cyvers. In response, Tether froze about $400,000 in USDT in ten addresses linked to the incident, as reported by Peckshield. The assets were moved through a DEX before being transferred, resulting in the pausing of FixedFloat’s hot wallet operations and the site being put into maintenance mode.

Republic acquires GoldenChain from GoldenTree

Asset manager GoldenTree divested its digital asset division, GoldenChain, to Republic, a strategic move aimed at strengthening Republic’s presence in the digital space. Joe Naggar, former partner at GoldenTree, will lead as CEO and CIO at the new Republic Digital wing. The deal seeks synergies between the companies’ expertise to foster innovations in digital assets, marking GoldenTree’s exit from this sector while maintaining investments in the new venture.

https://ih.advfn.com/stock-market/NASDAQ/coinbase-global-COIN/stock-news/93592847/btc-and-eth-suffer-sharp-decline-on-tuesday-key-c

[Minddoc7]

Damn, missed today's dip to $235 by 24 hours! GLTA!

[Investors3]

The future of AI-Driven Content at Coinbase: Expanding Horizons and Enhancing User Experience

Tl;dr: Coinbase aims to be at the forefront of integrating AI into its operations to enhance efficiency and user engagement. Last year marked a significant milestone with the initial rollout of 1,000 AI-generated crypto descriptions, crafted using our in-house Large Language Model (LLM) service. This achievement underscores our commitment to tailoring advanced LLM technology to meet the unique needs of Coinbase teams and customers.

By Victoria Jia, Jitin Dodd, Alex Luckerman, Yifan Xu, Galina Alperovich, Varsha Mahadevan, Dave Wasmer

Engineering, March 29, 2024

https://www.coinbase.com/blog/the-future-of-ai-driven-content-at-coinbase-expanding-horizons-and-enhancing?__cf_chl_rt_tk=8IwxzmQiYPW0C.8HBvVqbvt5iWtGaP_Uoh_SNSkm77M-1712003416-0.0.1.1-1791

[Minddoc7]

Added this morning. GLTA!

[highstakes]

Up

[Zilidium]

Is this more to your liking, I can spin it both ways? Tethering a nation's currency solely to gold is oftentimes dismissed by those who fail to see the enduring value of traditional, tangible assets amidst the whirlwind of modern economic theories. Those "libs" cite the complexities of our global economy, the supposed necessity of an elastic monetary policy, and the purported challenges of sustaining sufficient gold reserves to underpin the currency in circulation. However, this perspective overlooks the stabilizing force that a gold standard could reintroduce, amidst the reckless monetary expansion and the inflationary policies that have become all too common. While it's true that approximately 6.3 billion ounces of gold have been extracted throughout history, valued at about $2200 per ounce in today's market, summing up to a total value slightly over 14 trillion dollars, the argument that a gold standard would inevitably constrict economic growth and usher in deflation is one rooted in a shortsighted understanding of economic resilience and prosperity.

Furthermore, as we witness the burgeoning interest in digital currencies and assets, it's crucial to approach these modern financial instruments with a healthy dose of skepticism. The volatility and uncertainty surrounding these digital ventures render them, at this stage, as less reliable foundations for an economy than the proven stability of gold. Should there ever come a time when a digital currency is considered for backing a tangible currency, it must embody the core principles of sound money:

1. Stability: It must exhibit a high degree of steadiness, resistant to whimsical market fluctuations.
2. Scarcity: Its value must be derived from its rarity, yet it must remain sufficiently accessible to serve its purpose in the economy.
3. Acceptance: The asset should be universally recognized and valued as a store of wealth.
4. Durability: Its worth and physical state must not degrade over time.
5. Divisibility: It must be capable of subdivision to accommodate transactions of varying scales.

Only when a digital asset meets these stringent criteria, might it be considered as a potential candidate for backing a currency, mirroring the steadfast qualities of gold that have underpinned prosperous economies through the ages.

[WolfOfGrnStreet]

You sound like a democrat

[Zilidium]

In the modern era, backing a currency with a single commodity (gold) is seen as less practical due to the complexities of global economies, the need for monetary policy, flexibility, and the challenges of maintaining adequate reserves to support the currency in circulation. Many economists, would argue that returning to a gold backed system would limit economic growth and lead to deflation. 6.3 billion ounces (one estimate) of gold have been removed from the earth (in all history), at today's prices ~$2200 that would put all the gold in the entire world worth slightly more than 14 trillion ($14,067,312,644,231.22). So it seems that if the gold standard were to return, we would experience a bit of economic deflation,

Moreover, with the rise of digital currencies and assets, there's a growing interest in exploring new forms of value backing. However, these ideas are still in the exploratory phase and come with their own set of challenges and uncertainties.

Could crypto be considered suitable for backing a currency, it should ideally have the following characteristics:

Stability: The commodity should be relatively stable and not be prone to extreme fluctuations.
Scarcity: It should be rare enough to be valuable but not so rare that it's not accessible for the purposes of backing a currency.
Acceptance: The commodity should be widely accepted and recognized for its value.
Durability: It needs to be long-lasting and not prone to deterioration over time.
Divisibility: The commodity should be easily divisible to facilitate transactions of various sizes.

one day, maybe.

[Investors3]

What is crypto good for, anyway?
By Brian Armstrong / Company, March 19, 2024

Pundits frequently state that crypto doesn't have any real utility, beyond speculation and illicit activity. Yet over 50 million Americans and 400 million people globally have purchased crypto, and the best data we have from third parties says illicit activity accounts for less than 0.5% of transaction volume. So what exactly are all these people doing with it?

It's true that many are initially attracted to cryptocurrencies as an investment, and speculation has caused many to rush in. But what is the underlying idea that is driving the interest?

In the early 1970s the US (like many countries before) removed any link between the dollar and a hard commodity like gold. For over 50 years, a familiar pattern that we’ve seen throughout history has played out in the US: the government spends more than it earns because it can print money for “free”, and years or decades later, people pay the price through high inflation and stagnation.

The average person may not understand the nuances of quantitative easing and federal budget deficits, but they do notice rising prices of gas, food, and education, and they increasingly have a sense that something is amiss in our economy. In fact, 87% of Americans feel the current financial system needs an update. More than half of younger Americans use the system just sometimes or not at all.

This brings us to the first, and arguably most important, use case for cryptocurrency, which is that a cryptocurrency like bitcoin, is a return to sound money. Like gold, bitcoin is not a national currency backed by a single government. Inflation is a regressive tax in America and abroad, harming the poorest people in society the most. Bitcoin is hard money with a fixed supply, and is a solution to this problem. If inventing digitally native sound money were the only utility of crypto, it would still be a world changing technology, but that is just the start.

For the last 5+ years, the crypto industry has been hard at work building the infrastructure to update our financial system and expand the utility of crypto. The use cases are no longer future promises; they are here today. Here are a few of the most popular examples:

* Digitizing the dollar. Despite high demand for the dollar in many regions around the world, many can't open USD bank accounts, until the adoption of dollar backed "stablecoins", which now exceeds $100 billion. A digital dollar, like USDC, is essential for our global competition with China, which began investing in a digital Yuan in 2019.

* Fast, cheap, global payments. Merchants still lose about 2% on every credit card transaction, wire transfers cost $30, and many transactions in the U.S. still take days to clear. As blockchains have scaled using "Layer 2" solutions, you can now send USDC in one second, anywhere in the world, for about one cent. Dollar backed stablecoins transactions are approaching $9 trillion in annual volume (more than Mastercard, American Express, and Discover combined).

* A Business Model For Creatives. NFTs have reached over $62 billion in all time sales, and are allowing artists to have direct relationships with their fans, cutting out expensive middlemen. Whether for music, games, visual art, or video, crypto helps establish digital provenance to ensure artists get paid.

* Decentralized social media. While still early, decentralized social (or DeSo) ensures you own our own data, instead of it being controlled by big tech, and you can never be censored. Each post is digitally signed, proving who the original author is, to help combat fake content made possible with AI. Anyone can build a front end interface, using the same shared data set of all social media posts.

Crypto isn’t just a new asset class – it’s the future of money. Today’s system is clogged with middlemen, high fees, delays, and other inefficiencies that make the system hard to access and unfair.

The future of money is more open, free, efficient, and it’s powered by crypto. Crypto is the most important technology we have to update our global financial system, and it can move America forward. In fact, it's critical to ensuring the dollar's future status as a reserve currency, and America's status as a technology and financial hub.

Embracing crypto, and creating clear regulatory rules for crypto is the most patriotic thing Americans can do. If you're a crypto holder in the U.S., consider joining StandWithCrypto.org to help ensure pro-crypto candidates get elected in upcoming elections. If you're a policymaker, help drive regulatory clarity in the U.S. which protects consumers and fosters innovation. You can support bipartisan legislation like the Clarity for Payment Stablecoins Act, the Financial Innovation and Technology for the 21st Century Act, and the Responsible Financial Innovation Act. Crypto needs fit-for-purpose rules, and the time to act is now.

https://www.coinbase.com/blog/what-is-crypto-good-for-anyway?__cf_chl_rt_tk=UhAoD.2EYYmov4Pn.l5OjuYGs5pw4LmZR3tWpw0SCTI-1711478745-0.0.1.1-1663

[InspectorBullit]

Hit my forecast for today.

[deepdj011]

Next Level +11 % !

[Minddoc7]

That's why I've been adding on the dips. Thanks for the link. GLTA!

[starman2]

Must Read....

https://www.forbes.com/sites/digital-assets/2024/03/22/fed-triggers-a-huge-bitcoin-price-pump-as-blackrock-quietly-launches-5-trillion-by-2030-game-changer-that-could-boost-ethereum-xrp-and-crypto/

[InspectorBullit]

Up 20-30 bucks per share tomorrow.
800 bucks EOY.

[deepdj011]

BTC gets over the Rainbow ! The Next Days ! $ 120000 !!!

[Minddoc7]

Watching for a possible buying opportunity today. GLTA!

[Minddoc7]

I missed yesterday's buying opportunity. GLTA!

[Mother Lode]

CEO of Coinbase just said they are partnering with Compass Coffee A local DC/VA coffee house to accept stable coin as payment. Detail to be provided tomorrow at conference in DC (fox Business 5 minutes ago)

[Investors3]

Coinbase Announces Pricing of Upsized Offering of $1.1 Billion of 0.25% Convertible Senior Notes Due 2030
March 13 2024 - 08:03PM
Business Wire

Coinbase Global, Inc. (“Coinbase”) (Nasdaq: COIN) today announced the pricing of $1.1 billion aggregate principal amount of Convertible Senior Notes due 2030 (the “notes”) in a private offering (the “offering”) to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A promulgated under the Securities Act of 1933, as amended (the “Securities Act”). The aggregate principal amount of the offering was increased from the previously announced offering size of $1.0 billion. Coinbase also granted the initial purchasers of the notes a 30-day option to purchase up to an additional $165.0 million principal amount of notes, solely to cover over-allotments. The sale of the notes to the initial purchasers is expected to settle on March 18, 2024, subject to customary closing conditions, and is expected to result in approximately $1.08 billion (or approximately $1.24 billion if the initial purchasers exercise their option to purchase additional notes in full) in net proceeds to Coinbase after deducting the initial purchasers’ discounts and commissions and estimated offering expenses payable by Coinbase.

Coinbase intends to use the net proceeds from the offering to repay at maturity, or repurchase or redeem prior to maturity, from time to time and subject to market conditions, its outstanding 0.50% Convertible Senior Notes due 2026, 3.375% Senior Notes due 2028, and 3.625% Senior Notes due 2031 and for other general corporate purposes, which may include working capital and capital expenditures, and to pay the cost of the capped call transactions. If the initial purchasers exercise their option to purchase additional notes, Coinbase expects to use a portion of the net proceeds from the sale of such additional notes to enter into additional capped call transactions. Coinbase may also use a portion of the net proceeds to make investments in and acquisitions of other companies, products or technologies that Coinbase may identify from time to time.

The notes will be senior, unsecured obligations of Coinbase. The notes will bear interest of 0.25% per year payable semi-annually in arrears on April 1 and October 1 of each year, beginning on October 1, 2024. The notes will mature on April 1, 2030, unless earlier repurchased, redeemed or converted. Coinbase may not redeem the notes prior to April 1, 2027. Coinbase may redeem all or any portion of the notes (subject to certain limitations), at its option, on or after April 1, 2027 and on or before the 20th scheduled trading day immediately before the maturity date, if the last reported sale price of Coinbase’s Class A common stock exceeds 130% of the conversion price then in effect on (1) each of at least 20 trading days (whether or not consecutive) during the 30 consecutive trading days ending on, and including, the trading day immediately before the date Coinbase sends the related redemption notice; and (2) the trading day immediately before the date Coinbase sends such notice, at a redemption price equal to 100% of the principal amount of the notes to be redeemed, plus any accrued and unpaid interest to, but excluding, the redemption date. No sinking fund is provided for the notes, which means that Coinbase is not required to redeem or retire the notes periodically. Subject to a limited exception, holders of the notes will have the right to require Coinbase to repurchase for cash all or a portion of their notes upon the occurrence of a fundamental change (as defined in the indenture governing the notes) at a purchase price of 100% of their principal amount plus any accrued and unpaid interest.

The notes will be convertible at an initial conversion rate of 2.9981 shares of Coinbase’s Class A common stock, per $1,000 principal amount of notes (equivalent to an initial conversion price of approximately $333.54 per share of Class A common stock, which represents a conversion premium of approximately 32.5% to the last reported sale price of $251.73 per share of Coinbase’s Class A common stock on The Nasdaq Global Select Market on March 13, 2024).

Prior to the close of business on the business day immediately preceding October 1, 2029, the notes will be convertible at the option of the noteholders only upon the satisfaction of specified conditions and during certain periods. On or after October 1, 2029 until the close of business on the second scheduled trading day preceding the maturity date, the notes will be convertible at the option of the noteholders at any time regardless of these conditions. Conversions of the notes will be settled in cash, shares of Coinbase’s Class A common stock, or a combination thereof, at Coinbase’s election.

In connection with the pricing of the notes, Coinbase entered into privately negotiated capped call transactions with certain of the initial purchasers or their affiliates and/or other financial institutions (the “option counterparties”). The capped call transactions cover, subject to customary adjustments, the number of shares of Coinbase’s Class A common stock that will initially underlie the notes. The capped call transactions are expected generally to reduce the potential dilution to Coinbase’s Class A common stock upon any conversion of the notes and/or offset any potential cash payments Coinbase is required to make in excess of the principal amount of converted notes, as the case may be, with such reduction and/or offset subject to a cap. The cap price of the capped call transactions is initially approximately $503.46 per share, which represents a premium of 100% over the last reported sale price of Coinbase’s Class A common stock of $251.73 per share on March 13, 2024, and is subject to certain adjustments under the terms of the capped call transactions.

Coinbase has been advised that, in connection with establishing their initial hedges of the capped call transactions, the option counterparties or their respective affiliates expect to enter into various derivative transactions with respect to Coinbase’s Class A common stock and/or purchase shares of Coinbase’s Class A common stock concurrently with or shortly after the pricing of the notes. This activity could increase (or reduce the size of any decrease in) the market price of Coinbase’s Class A common stock or the notes at that time. In addition, Coinbase has been advised that the option counterparties or their respective affiliates may modify their hedge positions by entering into or unwinding various derivatives with respect to Coinbase’s Class A common stock and/or purchasing or selling Coinbase’s Class A common stock or other securities of Coinbase in secondary market transactions following the pricing of the notes and from time to time prior to the maturity of the notes (and are likely to do so during the relevant valuation period under the capped call transactions or following any early conversion of the notes, any repurchase of the notes by Coinbase on any fundamental change repurchase date, any redemption date or any other date on which the notes are retired by Coinbase, in each case if Coinbase exercises its option to terminate the relevant portion of the capped call transactions). This activity could also cause or avoid an increase or a decrease in the market price of Coinbase’s Class A common stock or the notes, which could affect the ability of noteholders to convert the notes and, to the extent the activity occurs during any observation period related to a conversion of the notes, it could affect the number of shares of Class A common stock, if any, and value of the consideration that noteholders will receive upon conversion of the notes.

The notes were only offered and sold to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A promulgated under the Securities Act by means of a private offering memorandum. Neither the notes nor the shares of Coinbase’s Class A common stock potentially issuable upon conversion of the notes, if any, have been, or will be, registered under the Securities Act or the securities laws of any other jurisdiction, and unless so registered, may not be offered or sold in the United States, except pursuant to an applicable exemption from such registration requirements.

This announcement is neither an offer to sell nor a solicitation of an offer to buy any of the notes or any shares of Class A common stock potentially issuable upon conversion of the notes and shall not constitute an offer, solicitation, or sale in any jurisdiction in which such offer, solicitation, or sale is unlawful.

About Coinbase

Crypto creates economic freedom by ensuring that people can participate fairly in the economy, and Coinbase (NASDAQ: COIN) is on a mission to increase economic freedom for more than 1 billion people. We’re updating the century-old financial system by providing a trusted platform that makes it easy for people and institutions to engage with crypto assets, including trading, staking, safekeeping, spending, and fast, free global transfers. We also provide critical infrastructure for onchain activity and support builders who share our vision that onchain is the new online. And together with the crypto community, we advocate for responsible rules to make the benefits of crypto available around the world.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains “forward-looking statements” including, among other things, statements relating to the completion of the offering, the potential effects of entering into capped call transactions, and the expected use of proceeds from the offering. Statements containing words such as “could,” “believe,” “expect,” “intend,” “will,” or similar expressions constitute forward-looking statements. These forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties that could cause actual results to differ materially, including, but not limited to, whether or not Coinbase will consummate the offering, prevailing market conditions, the anticipated use of the net proceeds of the offering, which could change as a result of market conditions or for other reasons, the impact of general economic, industry or political conditions in the United States or internationally, and whether the capped call transactions will become effective. The foregoing list of risks and uncertainties is illustrative, but is not exhaustive. For information about other potential factors that could affect Coinbase’s business and financial results, please review the “Risk Factors” described in Coinbase’s Annual Report on Form 10-K for the year ended December 31, 2023 filed with the Securities and Exchange Commission (the “SEC”) and in Coinbase’s other filings with the SEC. Except as may be required by law, Coinbase undertakes no obligation, and does not intend, to update these forward-looking statements after the date of this release.



View source version on businesswire.com: https://www.businesswire.com/news/home/20240313516156/en/

Press: [e-mail]
Investors: [e-mail]

https://ih.advfn.com/stock-market/NASDAQ/coinbase-global-COIN/stock-news/93484712/coinbase-announces-pricing-of-upsized-offering-of

[Minddoc7]

Tough to be short. Thanks for the links. GLTA!

[starman2]

https://www.tradingview.com/news/coindesk:a599f71fb094b:0-coinbase-plans-1b-bond-sale-that-avoids-hurting-stock-investors-copying-michael-saylor-s-successful-bitcoin-playbook/

[starman2]

https://www.tradingview.com/news/coindesk:a599f71fb094b:0-coinbase-plans-1b-bond-sale-that-avoids-hurting-stock-investors-copying-michael-saylor-s-successful-bitcoin-playbook/

[starman2]

https://www.coindesk.com/tech/2024/03/12/coinbase-gets-another-upgrade-this-time-at-raymond-james-as-bears-capitulate/

[starman2]

Glad to hear you averaged down. Thank you and gltu as well.

[Minddoc7]

Based on lvhd posts, he's been shorting COIN sine late 2023. I can feel his pain. I was hurting after buying COIN at the IPO, but fortunately have averaged down over the last few years. GLTA!

[starman2]

I'm a fairly new investor in coinbase and I am happy with my purchase point of $126 a share 😀

[Minddoc7]

Neither did I, but I did average down over the last few years and I'm pleased with my current position. GLTA!

[starman2]

I wish

[lvhd]

Did you buy under 50? LOL

[starman2]

Always buy when people cry.

[lvhd]

Keep buying. Offering hit

[starman2]

Just buying

[highstakes]

Just watching.

[Minddoc7]

Very nice looking one month chart. GLTA!

[Minddoc7]

A parabolic move! Hold on, the run is continuing! GLTA!

[Minddoc7]

Goldman Sachs Upgrades Coinbase Global to Neutral From Sell, Adjusts Price Target to $282 From $170
6:35 AM ET 3/8/24 | MT Newswires

[Minddoc7]

Mother Lode, see this morning's post #3942.

[Minddoc7]

COIN up over 5% in pre-market. Saw on TV this morning that economists expect BITCOIN to exceed $100K by end of 2024. GLTA!

[Minddoc7]

Horrible day in the Markets, today's Barrons article and the recent tremendous run by COIN resulted in today's pull back. However, considering the pps is up 2+% in after market trading, IMO, it is likely to be temporary. Possibly, just another buying opportunity, too. GLTA!

[Minddoc7]

It will surely be a diamond in the sector which is why I bought at the IPO and have added along the way. GLTA!

[chrispy2468]

COIN is to be the AAPL of the Crypto era

[starman2]

🔥 🔥 🔥

[Minddoc7]

I added to my holdings at the day's end. GLTA!