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Bitcoin traders often treat old-coin movement as a sign that long-term holders are waking up. Coinbase’s $69.5 billion BTC migration suggests that signal may be less reliable than it looks.
Under the settlement terms, Gemini did not admit or deny any wrongdoing.
The documents are unredacted versions of letters shared by Paul Grewal last month.
Coinbase is a publicly listed digital asset platform that operates one of the largest regulated crypto exchanges in the United States.
