Cryptocurrencies
Coinbase’s Junk Bonds Show Crypto Really Is Going Mainstream
- Boosted deal size by 33%, locked in lower rate amid big demand
- Investors look eager to pour money into crypto as DeFi soars
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Junk-bond investors gave cryptocurrencies their biggest endorsement yet as Coinbase Global Inc. sold $2 billion of debt.
Demand was so high -- at least $7 billion of orders poured in -- that the crypto behemoth was able to boost the deal’s size from $1.5 billion, according to a person with knowledge of the matter.