Coinbase bonds led U.S. high-yield losses Wednesday morning, following disappointing first-quarter earnings and a warning of a continued trading slump.
- Coinbase’s 3.375% bond due 2028 tumbled 9.375 cents to 67.5 cents on the dollar, according to Trace bond
pricing data- Its 3.625% bond maturing 2031 fell 1.25 cents to 65.2 cents on the dollar
- The company’s CEO Brian Armstrong said there is “no risk of
bankruptcy ” for the largest US cryptocurrency exchange, even after a “black swan” event that saw Bitcoin drop below $30,000 on Tuesday for the first time since the middle of 2021 - It’s the fifth steep ...
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