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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.
Early use cases include remittances, payment links, DeFi marketplaces, B2B payroll, creator payouts, and gaming with on-chain assets and free USDC sends on Base.
Coinbase said the raised funds would be used for new company purchases and general corporate purposes.
Coinbase is a publicly listed digital asset platform that operates one of the largest regulated crypto exchanges in the United States.
