Coinbase Global  (COIN) , the country’s biggest cryptocurrency exchange, said Monday that it planned to offer $1.5 billion of seven- and 10-year senior notes.

“The interest rate, redemption provisions, and other terms of each series of notes will be determined by negotiations between Coinbase and the initial purchasers,” the San Francisco company said in a statement.

The stock recently traded at $240.90, down 3%. In mid-April the stock touched a 52-week high $429.54.

The bond issuance “represents an opportunity to bolster our already-strong balance sheet with low-cost capital,” Coinbase said.

It intends to use proceeds from the offering for general purposes, which might include investment in product development and investments in or acquisitions of other companies, products or technologies, the company said.

Goldman Sachs is lead manager of the deal, which may be priced as soon as Tuesday, a knowledgeable source told Bloomberg.

The news services reported that S&P Global Ratings rated the bonds BB+ and Moody’s Investors Service rated them Ba1. That’s one rung below investment grade for each rating service.

Last week, Coinbase criticized the SEC for issuing a Wells Notice, which is essentially a formal intention to sue, over the company's plans to allow customers to earn interest by lending their cryptocurrency assets.

TheStreet.com Founder Jim Cramer urged caution for Coinbase. It’s “declaring war against a man [SEC Chairman Gary Gensler] who has unlimited firepower," Cramer said