Coinbase buys back underperforming debt with second quarter cash flow

By Devika Patel

Knoxville, Tenn., Sept. 13 – Coinbase Global Inc. has been repurchasing debt recently using cash flow generated in the second quarter.

“We generated cash flow in Q2, about $150 million, and when we looked at that and said this is a good opportunity for us to reduce leverage, given where the bonds were trading vis-a-vis other companies, so this is an opportunistic way that we can deleverage,” chief financial officer Alesia J. Haas said at the Barclays Global Financial Services Conference on Tuesday.

Coinbase is a Wilmington, Del.-based cryptocurrency exchange platform.

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