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Coinbase has announced via press release the offering of $1.5 billion in senior notes due in 2028 and 2031. The offering comes just after the SEC issued a Wells Notice to Coinbase last week.

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According to the press release, Coinbase is seeking to "bolster its already-strong balance sheet with low-cost capital." 

Coinbase plans to use the funds for "general corporate purposes, which may include continued investments in product development, as well as potential investments in or acquisitions of other companies, products, or technologies that Coinbase may identify in the future. The closing of the offering is subject to market and other conditions."

Coinbase has made three different acquisitions in 2021 alone with Zabo, an API that lets you connect multiple crypto apps, Skew, a crypto analytics platform and Bison Trails, a blockchain infrastructure company.

While further acquisitions could be a motive behind the debt offering, It may also be possible that Coinbase is seeking to have an excess of available cash for any potential legal battle with the SEC. 

Just last week Coinbase received a Wells Notice from the SEC. A Wells Notice is a letter issued by the SEC that informs the receiving company that an investigation has been completed and that infractions have been found.

Right now it is unclear what the SEC has found and what this could mean for Coinbase, but it is almost certain that the Wells Notice will result in some level of charges.

This story is developing.