Grayscale transfers $175m worth of Bitcoin via Coinbase

Crypto asset manager Grayscale has made a strategic move by transferring 3,443.1 Bitcoin, amounting to over $175 million, to an address associated with the Coinbase exchange. The latest move was executed in five separate transactions to Coinbase Prime, a platform designed to cater to the liquidity needs of institutions. According to Arkham, at 22:12 UTC+8 on February 23, Grayscale transferred 2,669.31 BTC to the address of Coinbase Prime Deposit, worth approximately US$136 million;it transferred 773.79 BTC to a new address, which is suspected to be Grayscale’s new custody address.… —…

Coinbase CEO: Every Institution Is Now Starting to Hold Crypto

Coinbase CEO Brian Armstrong says “every institution is now starting to hold crypto,” emphasizing that “the asset class will be a standard part of every diversified portfolio.” Moreover, the executive noted that institutions will eventually be using crypto in other ways, such as “holding it on their balance sheet, paying their vendors, [and] doing payroll.” […] Source CryptoX Portal

Coinbase Commerce Ditches Support for Bitcoin Payments Using Self-Custody Wallets

Coinbase Commerce, the cryptocurrency payments solution of U.S.-based exchange Coinbase, has removed support for bitcoin payments using self-custody wallets. Brian Armstrong, CEO of the exchange, clarified it maintains support for payments from UTXO-based chains from Coinbase accounts. However, Commerce will focus on supporting ERC-20 tokens on layer 2 protocols, like Base and Polygon. Coinbase Commerce […] Original

Where Coinbase Canada Goes, so Does the World

To that end, Coinbase recently joined the Canadian Web3 Council, a multi-party non-profit organization that’s looking to loosen up recent legislative and regulatory initiatives in Canada that are currently driving crypto companies out of the country. In recent months, for instance, a number of exchanges have decided to pull out of Canada, including Binance, Bybit, dYdX, OKX, Paxos and Bittrex (the last of which has since declared bankruptcy), in direct response to “recent regulatory developments.” Source

Digital Bank is Taking on Coinbase With a New Crypto Exchange

The digital bank Revolut is developing a new cryptocurrency trading platform designed for seasoned crypto traders, according to an e-mail sent to customers this week. The new platform will offer more advanced trading features like deeper market analytics and lower trading fees than Revolut’s existing crypto services. etoro: Experience a reliable, user-friendly platform trusted by millions. Stay ahead in the crypto world. Board the Crypto Train now! In fact, Revolut aims to offer a fully independent crypto exchange in addition to standard digital asset services. The question is, however, whether…

Coinbase drops Bitcoin, UTXO coins from merchant platform Coinbase Commerce

Crypto exchange Coinbase has discontinued support for native Bitcoin and other Unspent Transaction Output (UTXO) coins on its merchant payment service, Coinbase Commerce. Lauren Dowling, the head of product at Coinbase, revealed the decision in a thread on X on Feb. 18 that the move was driven by challenges encountered while attempting to integrate recent updates into its Ethereum Virtual Machine (EVM) payment protocol for Bitcoin. 1/ Hey folks, I’m the product lead for Coinbase Commerce and want to share some thoughts on how the product is evolving, why we’ve…

Coinbase Custody Accounts For 90% Of All Bitcoin ETFs

Coinbase Custody reportedly now holds over 90% of all Bitcoin ETFs in the United States. This development was revealed by the crypto exchange’s CEO, Brian Armstrong, while appraising the company’s performance in the fourth quarter (Q4) of 2023. Coinbase Emerges As Major Player In Bitcoin ETF Market In an X post on February 16, Brian Armstrong shared specific highlights of Coinbase’s achievement in Q4 2023. In particular, He noted that the American crypto exchange has played a crucial part in facilitating the adoption of cryptocurrencies by traditional financial firms (TradFi).…