Coinbase disclosed their intention to raise $1.5 Billion via a debt offering

Cointelegraph reports that Coinbase, one of the biggest cryptocurrency exchanges in the United States, has disclosed their intention to raise $1.5 billion via a debt offering. The cryptocurrency exchange, which is listed on the Nasdaq, plans to utilize the money it has raised to grow its balance sheet, which may include future investments and acquisitions of other businesses, products, or technological innovations.

Senior notes due 2028 and 2031 with an aggregate principal amount of $1.5 billion will be offered in the current round. They will be fully guaranteed by Coinbase Inc., which is a wholly owned Coinbase subsidiary that serves as the business's holding company, and will be fully guaranteed by Coinbase Inc. in the subsequent round. The interest rate, redemption conditions, and other terms of the capital raising will be negotiated between the company and the initial buyers, according to the agreement.

Following the issuance of a private offering memorandum, Coinbase said that the notes and associated guarantee will only be offered and sold to individuals who are "reasonably regarded to be qualified institutional purchasers" under local securities regulations and who reside outside of the United States.

"Neither the notes nor the accompanying guarantee have been or will be registered under the Securities Act or the securities laws of any other nation, and they will not be registered under such laws.

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White Hat hacker was offered a $500,000 reward from Poly Network

Following a breach that resulted in the loss of $610 million by cryptocurrency exchange Poly Network earlier this week, the company announced a $500,000 "bug reward" to whoever was responsible. With an emphasis on enabling users to move or exchange tokens across various blockchains, Poly Network is a decentralized finance (Defi) platform that enables peer-to-peer transactions intending to facilitate peer-to-peer transactions. He had "helped us improve Poly Network's security," the company said. A "white hat" hacker tries to disclose cyber vulnerabilities. "Mr. White Hat" was also to get a $500,000 reward as part of the digital money repatriation talks. It said that the hacker had replied to the offer, but did not specify whether or not the offer had been accepted. However, it has been reported that the hacker has returned $340 million in money and has transferred the bulk of what is left to a digital wallet owned by them and Poly Network, acc

Why Energy Concerns Around Blockchain May Be a Misconception

Blockchain has made headlines recently for using more energy than airlines or even entire countries. Different types of chains have different impacts on the environment based on how they're designed. The proof-of-stake (POS) model is significantly more energy-friendly than the traditional Proof of Work (POW) model. Blockchains operate differently than traditional IT systems. Different types of chains have different impacts on the environment based on how they're designed. Proof-of-work (POW) is what's behind traditional "mining," where miners compete to solve a mathematical puzzle. The Bitcoin Foundation has switched to a more energy-friendly model of proof-of-stake. Proof-of-stake (POS) requires those working on the chain to have skin in the game. POS also reduces power consumption and accelerates the handling of transactions. The model is being adopted by big names in the industry such as Bitcoin, & Ripple.

Understanding the technology underlying cryptocurrencies

Blockchain technology could prove transformative for industries, including financial services. A primer on technology, sponsored by the Organization for Economic Co-operation and Development, was recently published. It highlights the array of opportunities and challenges that blockchain's popularity could have on the financial industry, among many other fields. A blockchain is a shared ledger of transactions between parties in a network. It can diminish the role of intermediaries in the transfer of data. The Organization for Economic Cooperation and Development (OECD) sees far-reaching potential for blockchain in the global economy. Blockchains can vary in the way they operate. One of the prime strengths of a blockchain is its immutability. Once a transaction is made to the ledger, it can not be undone. The first U.S. bitcoin futures exchange-traded fund became available in October 2021. Forty percent of fund selectors report that clients are increasingly demanding cryptocurrency

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