The price of Coinbase’s junk bonds are tanking amid an underwhelming performance in Q1 and fears over what could happen in the event of a bankruptcy.
According to bond trading data from Trace Bonds, both of Coinbase’s junk bond offerings have dropped roughly 17% and 5.2% since its Q1 report on Tuesday to sit at $63 and $62.31 at the time of writing. Overall, they are down 20% and 19% apiece since the start of this month.