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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.
Coinbase's DeFi venture BASE saw rapid adoption this year.
The Coinbase CFO said that the classification issue stems from a lack of regulatory clarity around crypto in the US.
Coinbase is a publicly listed digital asset platform that operates one of the largest regulated crypto exchanges in the United States.
