The US-based cryptocurrency exchange, Coinbase is repurchasing a portion of its USD $1 billion bond expiring in September 2031. The decision followed an impressive financial performance by the cryptocurrency exchange in the second quarter of the year.

According to the company’s statement issued yesterday (Monday), the offer is valid until September 1, 2023, at 11.59 p.m. Citigroup brokerage’s arm has been selected to manage the repurchase, which is expected to improve the financial position of the Nasdaq-listed exchange by reducing interest expenses.

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The holders of the bond who participate in the buyback and sell their bonds before August 18 will receive USD $645 per USD $1,000 principal amount of the bond. This amount includes an early-tender premium of USD $30. Besides that, the bondholders who sell their bonds after August 18 but before September 1 will receive USD $615 for USD $1,000 of the principal amount of the bond.

Four days ago, Finance Magnates reported that Coinbase reduced its net loss to USD $97 million in the second quarter from USD $1.1 billion reported in the same period last year. This was impressive performance, despite showing a decline of 17% in the company’s revenue year-over-year. Among the factors that boosted the performance of the crypto exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term is its selection by asset managers as a Surveillance Sharing Partner (SSA) for spot Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term ETFs.

Coinbase’s Q2 Report

"In Q2, we made further progress toward this bold goal, such as expanded access to derivatives products to customers outside the US, being selected by many leading asset managers to provide critical infrastructure underpinning their proposed spot Bitcoin exchange-traded funds (ETFs) products," the exchange explained.

Meanwhile, Coinbase has challenged a lawsuit filed against it by the Securities and Exchange Commission (SEC). The regulator is accusing the company of operating an unregistered trading platform and offering digital assets without approval. However, the crypto exchange has disputed the claims, saying the regulator is overstepping its mandate.