Coinbase's debt is selling off into the stratosphere.
It yields 14.3% and climbing, which is 1.75x higher than the 8.1% most of America's junk corporations have to borrow at.
The market is saying that Coinbase is 620 bps riskier than junk:
JUST IN - $1.5 trillion asset manager Franklin Templeton: If a spot #bitcoin ETF is approved, it will open up "a new access point" for traditional portfolios.
Not if, when ๐