Coinbase: Institutional Folks Buying $200-400M Worth Crypto A Week

Coinbase: Institutional Folks Buying $200-400M Worth Crypto A Week
фото показано с : bitcoinist.com

2019-8-18 22:22

Brian Armstrong talked about institutional investors in the cryptocurrency space on Twitter earlier this week, saying the question of whether or not institutions will adopt cryptocurrencies has been answered. Coinbase is reportedly seeing hundreds of millions of dollars per week pouring in from legacy financial institutions.

Custody Woes

The main issue cited by institutions looking to get into Bitcoin and cryptocurrencies is of custodianship. Getting a hardware wallet is a good idea for the average user with a few hundred dollars invested, but when it comes to massive financial institutions, they’re looking to invest anywhere from hundreds of thousands to hundreds of millions of dollars. With those kinds of numbers, extreme care needs to be exercised in the storage of coins.

Whether institutions were going to adopt crypto or not was an open question about 12 months ago. I think it's safe to say we now know the answer. We're seeing $200-400M a week in new crypto deposits come in from institutional customers.

— Brian Armstrong (@brian_armstrong) August 16, 2019

Most financial institutions simply don’t have the infrastructure for a robust security system, equipped with the tools needed to properly safeguard any coins they are responsible for.

This issue paved the way for companies like Xapo and Coinbase, to offer custodianship to those firms looking for a safe way to invest big amounts in Bitcoin or other crypto-currencies.

Finance firms hopping on the Bitcoin Bandwagon

Coinbase Custody is currently the largest custodian of cryptocurrencies. Officially launching their services in July of last year, they slowly built their customer base up, reaching $1 billion in assets controlled in April of this year. With Bitcoin’s bull run seen earlier this summer, it prompted many fence-sitters to finally jump into the market and invest. Within just five months of reaching $1 billion, Coinbase now controls over $7 billion in assets, and that trend seems to be continuing.

The biggest issue with crypto adoption at the moment is the lack of infrastructure surrounding these payment networks. Companies like Coinbase that are building out the framework that will allow the legacy financial institutions to easily use cryptocurrencies will foster the next wave of adoption, allowing more and more people all over the world to take back control of their finances and enjoy more economic freedom.

How long until Bitcoin price breaks $20k again? Are institutional investors the answer? Let us know your thoughts in the comments down below!

Images courtesy of Bitcoinist Media Library, Twitter: @brian_armstrong

The post Coinbase: Institutional Folks Buying $200-400M Worth Crypto A Week appeared first on Bitcoinist.com.

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week coinbase institutions institutional cryptocurrencies 200-400m buying

Источник: bitcoinist.com

week coinbase → Результатов: 126


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When I decided, maybe against my better judgement, to live on bitcoin for a week, the plan was met by a combination of cautions and jokes from friends and loved ones: “Just don’t starve,” “Well, it’s the New Year, a perfect time to start a new diet,” “Will you be able to eat?”, “Have you really thought about it?”I had “really” thought about it and it seemed not only sensible but necessary.

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Ethereum blockchain’s next network upgrade will be arriving this week, and cryptocurrency Exchange Coinbase is now informing its customers on what they should expect during the upgrade. Coinbase will be supporting Constantinople and users will not be able to engage fully with the blockchain while the network is being upgraded.

2019-1-15 16:59


This Week in Crypto: Amazon to lead next bull run, BTC undervalued, XRP on Coinbase, Best time to buy Bitcoin, ETH and EOS Better than Tron? And More

The week 9 to 15 December was another bloody week for cryptocurrencies. The market has been bearish with the top cryptocurrencies bleeding until today when it has sustained the green zone. A number of other interesting stories also unfolded, the best of which we have picked and summarized for you in this weekly summary just […] The post This Week in Crypto: Amazon to lead next bull run, BTC undervalued, XRP on Coinbase, Best time to buy Bitcoin, ETH and EOS Better than Tron? And More appeared first on ZyCrypto.

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Coinbase Announces That It’s Attending the AWS re:Invent Conference in Las Vegas Next Week

The annual Amazon Web Services (AWS) learning conference AWS re:Invent will witness participation from Coinbase, one of the largest crypto exchanges in the US. Coinbase announced on its blog on Tuesday that members from its product and engineering teams will be present in Las Vegas between November 26 and 30 to speak about scaling blockchain […] Coinbase Announces That It’s Attending the AWS re:Invent Conference in Las Vegas Next Week was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

2018-11-21 15:59


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Basic Attention Token Price Gains 7% After Rough Week

There has been a lot of talk about Basic Attention Token over the past few weeks. Its rumored listing on Coinbase triggered a major price increase. That was followed swiftly by a market dump as trading on Coinbase effectively began This week, things are looking a bit better, primarily because there is a new uptrend […] The post Basic Attention Token Price Gains 7% After Rough Week appeared first on NullTX.

2018-11-16 13:13


Regulators Approve Coinbase to Offer Custody Services in New York State

Coinbase has secured approval from New York state regulators to act “as a limited purpose trust company” in the state, a press release reveals. According to the release, the New York Department of Financial Services (DFS) has officially signed off on an application for the Coinbase Custody Trust Company, a subsidiary of Coinbase Global, Inc.

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