Bitcoin Is Enough—Coinbase CEO Rejects Altcoins For US Reserves
Brian Armstrong, CEO of Coinbase, feels that in building its crypto strategic reserve, the United States should concentrate on Bitcoin. Compared to gold, he says it is the best option. Moreover, he thinks it would simplify things and reduce the risks involved with possessing different kinds of cryptocurrency. Related Reading: XRP Sky-High Target: Analyst Predicts $385 – Here’s The Case Bitcoin As The Strongest Choice Armstrong said that the long-term reserve that is most safe is Bitcoin. Unlike other cryptocurrencies, Bitcoin is generally considered as a reliable store of value with strong....
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Coinbase has updated its investment policy to include a 10% quarterly income allocation in Bitcoin and other cryptocurrency and also committed to investing $500 million of its $4 billion in reserves into crypto.
If confirmed, someone could have made a serious commitment to BTC worth over $1 billion. Bitcoin (BTC) could be seeing renewed interest from big buyers as data shows large tranches of coins leaving major exchange Coinbase.As shown by monitoring resources including Whale Alert and CryptoQuant on March 11, an unknown wallet has received almost 30,000 BTC from the U.S. platform.Coinbase Pro $1.15 billion lighterThe potential buy-in came in the form of three separate transactions on Coinbase Pro, Coinbase’s professional investment arm.According to Whale Alert, these were for 9,843 BTC, 9,901....
Bitcoin has been leaving Coinbase's wallets in 2021 while BTC exchange reserves on Binance tell a different story. Despite Bitcoin (BTC) dropping below $43,000 mark on Sept. 20, the outflow of BTC from exchanges has continued in a multi-month trend, particularly on Coinbase Pro. BTC/USD 4-hour candle chart, Coinbase. Source: TradingView.comOver the past month, the amount of Bitcoin held in Coinbase Pro's vaults dropped by 28,843.87 BTC. Similarly, other crypto exchanges, including Kraken, OKEx, Bitfinex, and Huobi, also experienced a drop in their Bitcoin holdings, with the withdrawn....
Coinbase president Emilie Choi expects USDC’s updated reserves policy to be in full effect by September. Coinbase president and COO, Emilie Choi, has announced that the reserves backing the stablecoin USD Coin (USDC) will be consolidated into cash and U.S. government treasuries.An Aug. 22 blog post from CENTRE Consortium, the entity that was collaboratively established by top U.S. crypto exchange Coinbase and blockchain financial services company Circle that issues USDC, stated that USD Coin’s reserves will soon be entirely held in “cash and short duration U.S. Treasuries.”On Twitter, Choi....
BTC’s price loses its $18,200 support as the price trades to a region of $15,700 as Binance rejects FTX takeover. BTC’s price continues to look bearish with the market’s current state, as things look uncertain for most traders and investors. BTC’s price remains weak across all timeframes as the price trades slightly below the 50 and 200 Exponential Moving Averages (EMA). In the last two days, the crypto market has been erratic, with the price of many altcoins, including Bitcoin (BTC), battling for survival after the news came out that Binance would not be taking....