US govt $590M Silk Road Bitcoin transfer to Coinbase unlikely to be sold Analyst

The government could also be looking to custody or trade the Bitcoin, based on a recent partnership with Coinbase Prime.

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Arkham transfers $487M ARKMs to Coinbase Prime for tax compliance

As the unlocking process progresses, Coinbase Custody will play a crucial role in managing the vesting of these tokens.

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Coinbase Prime to End Custody Support for 49 Altcoins by Aprils End

Coinbase Prime has stated that it will no longer be holding 49 alternative coins by the end of this month.

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33.41 Million BLUR Tokens Transferred to Coinbase Prime Following Unlock

Coinbase Prime's integration of BLUR sees significant token transfers with over $22 million moved, mirroring market anticipation and strategic liquidity management. (Read More)

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MakerDAO approves custody of $1.6 billion USDC via Coinbase Prime

The MakerDAO community has approved a proposal that will see the crypto protocol custody as much as $1.6 billion USD Coin (USDC) with cryptocurrency exchange Coinbase.

The USDC will be held via Coinbase’s institutional custody platform Coinbase Prime, and offer a yield of 1.5%, with custodied funds accessible round-the-clock to the DAO Peg Stability Module as it looks to help push the overall growth of the stablecoin and DeFi ecosystems.

According to MakerDAO, 75% of the community voted to ratify the Coinbase Institutional Rewards proposal, paving the way for the move.

Coinbase Institutional Rewards (MIP81) has been approved by Maker Governance through a Ratification Poll.

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This outcome enables Core Units to initiate the onboarding of 33% of the PSM's USDC to @Coinbase's Institutional Rewards program.

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Coinbase believes the proposal will also help grow the USDC under custody, expanding the stablecoin’s institutional reach and rewards.

The crypto exchange, among the consortium that backed the launch of USDC and works towards its growth, believes the USD-pegged stablecoin is on track to becoming a major player in a new financial paradigm.

Jennifer Senhaji, the head of growth and business development at MakerDAO, said in a statement:

“This proposed collaboration with Coinbase follows an approved signal of intent by the MakerDAO community to increasingly invest Maker’s collateral into short-term bonds. It was agreed that any collateral deployed should meet the criteria of offering safety, cost structure, and flexibility. Coinbase is uniquely situated to offer a USDC Rewards Program that fulfils these criteria.”

The partnership will also enable MakerDAO, the issuer of DAI, advance its mission of promoting global crypto adoption via decentralised finance.

The post MakerDAO approves custody of $1.6 billion USDC via Coinbase Prime appeared first on Invezz.

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BlackRock to Boost Crypto Access Points through Partnership with Coinbase

BlackRock, the globe’s largest asset manager, has teamed up with crypto exchange Coinbase to provide institutional investors with new crypto access points. (Read More)

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Coinbase Vaults Beyond 1 Million Bitcoin Mark, Stash Valued Over $52 Billion

On Friday, Feb. 16, 2024, bitcoin’s value hovered between $51,850 to $52,350, with onchain insights from Arkham Intelligence revealing that the Nasdaq-listed crypto exchange giant, Coinbase, now possesses over 1 million bitcoin. Based on the current market prices, the stash secured by the San Francisco-headquartered firm is valued at just above $52 billion. Coinbase Outshines [...]

The post Coinbase Vaults Beyond 1 Million Bitcoin Mark, Stash Valued Over $52 Billion appeared first on Crypto Breaking News.

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