Coinbase CEO Reacts to Better Business Bureau's New Rating: Details

Coinbase CEO Brian Armstrong has reacted to a significant milestone for the top U.S. cryptocurrency exchange. In a tweet, Armstrong disclosed that Coinbase has acquired an A+ rating from the Better Business Bureau (BBB), indicating considerable growth in customer service.

In his X post, Armstrong applauded the company’s Customer Experience team, highlighting the effort that went into achieving this milestone.

"The Customer Experience team at Coinbase has been working hard to improve our scores and we finally hit an A+ rating with the Better Business Bureau," the Coinbase CEO wrote. He added that as Coinbase continues to handle a growing share of its users’ financial lives, improving the customer experience is critical.

The Coinbase CEO indicated that there is still much work to be done on improving support, especially addressing the bugs that drive customers to reach out in the first place, adding, "If you have to contact support, we’ve probably already made a mistake upstream somewhere."

This acknowledgement demonstrates Coinbase’s commitment not just to reactive support but to proactive improvements that prevent issues before they occur.

In a recent development, Coinbase has introduced the Embedded Wallets tool through its Developer Platform (CDP) to make wallet integration easier for developers. This development comes as Coinbase rebrands its wallet as an "everything app," the Base app, after its layer-2 network.

Coinbase announces proposed private offering

Coinbase is raising $2 billion from the sale of convertible bonds, joining a slew of cryptocurrency-focused companies in this push.

According to a recent announcement, the largest U.S. crypto exchange intends to use the proceeds to potentially repurchase stock and redeem outstanding debt.

Coinbase's convertible offering follows a recent surge in deals, with $51.9 billion raised through equity-linked instruments in the United States this year.

Coinbase’s deal is being marketed in two tranches with a 0% coupon due in 2029 and 2032. The bonds due in 2029 are being offered with a conversion premium of 50% to 55%, and the seven-year tranche in 2032 is promoted with a premium of 30% to 35%.