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Title: The market is worried about Coinbases solvency.
Source: [None]
URL Source: https://threadreaderapp.com/thread/1595180650537127939.html
Published: Nov 23, 2022
Author: Mike Rivero
Post Date: 2022-11-23 21:23:15 by Horse
Keywords: None
Views: 9

Coinbase bonds are trading at a massive discount, about 50% to par value.

The bonds are yielding 16%. A yield that high is a sign that investors are worried about the company’s ability to make the interest payments. 

Back in May, Coinebase’s CFO warned that there was a “small risk of bankruptcy”.

Not something a perfectly healthy business would say.

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