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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.
The company’s last investor earnings report revealed a significant drop in profits in Q3.
Coinbase users can borrow $1 million on the exchange using their BTC as collateral whilst paying as little as $10 monthly.
Coinbase is a publicly listed digital asset platform that operates one of the largest regulated crypto exchanges in the United States.
