Alesia Haas – the Chief Financial Officer of Coinbase Global Inc (NASDAQ: MONEDĂ) once agreed to at least a “small risk of bankruptcy” on CNBC.
Six months later, those concerns are coming to life after FTX filed for bankruptcy. In her recent tweet, Genevieve Roch-Decter of Grit Capital said:
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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.
Binance CEO added fuel to the fire
On top of that, Changpeng Zhao (CEO of Binance) recently suggested that Coinbase may be running low on reserves. To which, Brian Armstrong (Coinbase CEO) responded as: