Coinbase Custody Acquires Xapo and Becomes the Largest Crypto Custodian

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Coinbase Custody Acquires Xapo and Becomes the Largest Crypto Custodian
Coinbase has announced that they acquired Xapo’s institutional business for $55 million. With this move, Coinbase Custody now has around $7 billion in digital assets under control.
Coinbase Custody Acquires Xapo and Becomes the Largest Crypto Custodian

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Source: CoinSpeaker

Have No Doubt, Bitcoin & Crypto Are Now Institutional Plays

Last year, the “institutions are coming” narrative became heavily cited in the Bitcoin and crypto space. You see, back then, investors were grasping for straws, trying to find some glimmers of hope in a roaring bear market.
Related Reading: New BBC Language Lesson Focuses on Crypto, is it Good?
Unfortunately, the narrative wasn’t entirely accurate.
While Fidelity Investments did launch a cryptocurrency division, CME Bitcoin futures volumes accelerated upwards, and Bakkt unveiled its intent to launch Bitcoin futures, there was little evidence to suggest that institutions were making this industry their stamping ground.
But this is changing in 2019. There is now actual evidence that institutions are starting to make splashes in the cryptocurrency market.
Institutions Are Going Crypto
For most of its history, Bitcoin has been a retail trend. The cryptocurrency is inherently grassroots — seemingly no company or government is behind the project, it is developed by individuals across the world, and it is currently an asset for the oppressed.
But, as aforementioned, this is changing. While this does go somewhat against the ethos of the Bitcoin vision set in stone by this industry’s in-house philosophers, it is likely a necessary step for adoption and growth.

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
According to a recent tweet from Brian Armstrong, the chief executive of Coinbase, there is no question that institutions are starting to make bonafide forays into “crypto”.
Citing data from his firm’s deposits, there is around $200 million to $400 million worth of cryptocurrencies deposited into Coinbase’s coffers each week from “institutional customers”. It isn’t clear of this means deposits to Coinbase’s exchanges, wallets, or custody vaults.
Related Reading: Bitcoin Plunges Back Down to $9,600 After Rising Above $12,000
But, considering the context, Armstrong’s statistic is likely in reference likely means deposits to exchanges and custody.
Considering that data from Bitcoin analytics company TokenAnalyst suggests that an exchange of Coinbase’s caliber receives around $30 to $60 million worth of Bitcoin inflows each day, Armstrong may be implying that most of his firm’s volumes are institutionally-sourced.

24H BTC exchange on-chain flows:#binance: $74M in | $66M out#bitstamp: $69M in | $57M out#bittrex: $4M in | $5M out#poloniex: $2M in | $5M out#bitmex: $25M in | $40M out
See more at https://t.co/6AFFM1luEP
— TokenAnalyst (@thetokenanalyst) August 16, 2019

Getting Into the Bitcoin Game
This isn’t the only sign that institutions are getting their toes wet in the Bitcoin waters.
As reported by NewsBTC previously, Bakkt, the New York Stock Exchange-backed crypto initiative, is expected to fully launch its cryptocurrency futures contracts in the coming months.
What’s interesting about this is that while the hype has somewhat faded, Fundstrat Global Advisors claims that there is “institutional anticipation” for the product.
Sam Doctor of the research firm wrote that there “appears to be a critical mass of adopters ready to come on board on Day 1 of the Bakkt launch”, noting that the firm’s sales team is starting to ramp up discussions with everyone from brokers and market makers.
Also, the recent correlations between macroeconomic and geopolitical turmoil and the value of Bitcoin, according to some analysts, is also a sign of hedge funds and other institutions entering the crypto market.
You see, despite how much credit retail investors give to themselves, they likely aren’t considering macroeconomic trends when trading cryptocurrency.
Featured Image from Shutterstock
The post Have No Doubt, Bitcoin & Crypto Are Now Institutional Plays appeared first on NewsBTC.
Source: New feedNewsBTC.com

Coinbase Acquires Xapo’s Bitcoin Custodial Arm, CEO Reveals Ambitious Future Plans

US-based Crypto Exchange Coinbase has announced the acquisition of Xapo’s institutional business. Xapo is a Hong Kong-based cryptocurrency firm that provides wallets, cold storage of Bitcoins and also Bitcoin debit cards. Reportedly, the deal was worth $55 million.
Coinbase.com is one of the most trusted crypto exchanges in the US and Europe. Reportedly, Coinbase outbid Fidelity in the race for Xapo. The report also cited that while some other firms placed higher bids, Coinbase provides the level of “security or regulatory credentials to be acceptable to Xapo’s clients.”
Coinbase Pro and Coinbase Custody service institutional clients (high-volume investors) only. They claim best-in-class security and insurance for their custody platforms.
By acquiring Xapo’s custodial arm, Coinbase now became the largest crypto custodian in the world. It has a total Asset Under Custody (AUC) worth $7 billion and serves over 150 clients in 14 nations.
Coinbase Custody AUC
Xapo, under CEO Wences Casares, has primarily concentrated its efforts around Bitcoin. Reportedly, it will focus on the retail adoption of Bitcoin.
Future Plans of Coinbase and it’s Custodial Arm
Moreover, Coinbase is planning to expand its custody business to other crypto assets and provide banking services as well. It is planning to include ‘staking’ which align with the recent additions to Coinbase of Tezos and Algorand. The CEO of Coinbase Custody Sam McIngvale told the media,
“Moving forward, the next phase of crypto custody is a much broader suite of services serving a much broader set of crypto assets,”
Sam also hinted at the beginning of a revenue stream from the custody from lending and borrowing. This move will necessarily have Coinbase provide banking and other traditional Financial Service. He said,
“Fundamentally, we have to help our investors earn a return on their assets. You can imagine lending out Bitcoin and earning interest on that,”
Coinbase CEO Brian Armstrong has also reiterated in the past about the addition of more crypto within the Coinbase ecosystem. On Coinbase custody he noted,
”Custody is a critical step toward the institutionalization of crypto economy. It’s likely to start off small—maybe a few billion under custody—but it will grow quickly to a point that it’s a meaningful piece of stable, recurring revenue for the company,”
At the beginning of this year, Coinbase also announced an expansion to Japan. Recently, Nao Kitazawa, Head of Coinbase at Japan told the media in the press release,
What really excites me about Coinbase’s opportunity in Japan is to bring to market a product that redefines the way people think about crypto,
Japan’s regulatory environment is different than the US and Europe. What Coinbase has in store for crypto enthusiasts in Japan, might lead to increased adoption.
What additional services could Coinbase offer in Japan? Please share your views with us.
The post Coinbase Acquires Xapo’s Bitcoin Custodial Arm, CEO Reveals Ambitious Future Plans appeared first on Coingape.
Source: CoinGape

Coinbase Pro Adds Support for Algorand [ALGO] – This is How the Price Reacts to it

Coinbase Pro announced support for another cryptocurrency after recently adding support for Tezos. Coinbase Pro added Algorand [ALGO] for all its users, except for New York state. The support was added on 14th August, and trading is expected to begin soon. He press release noted,
On Wednesday, August 14, 2019 after 10am PT, we will begin accepting inbound transfers of ALGO to Coinbase Pro. We will accept deposits for at least 12 hours prior to enabling full trading, which will occur during business hours, Pacific time.
Algorand is a blockchain project founded by Silvio Micali; it aims to improve decentralization, scalability, and security. It was only released in June 2019 and follows permissionless, pure proof-of-stake (PoS) protocol which allows for building scalable blockchain projects.
While trading of Algorand will begin some around 12 hours from now, it will depend on the deposits to the Coinbase Pro account during this period.
Coinbase has been aggressively adding support for cryptocurrencies. It recently also released a list of tokens that are probably next in line.
Alogrand/USD Price Chart on Coinmarketcap
The price of Algorand [ALGO] at shot up to $0.847 from $0.78 because of the FUD created at the break of the news. However, it subsided down below $0.77 as soon as it rose. The price of Algorand [ALGO] at 17: 20 hours UTC on 14th August 2019 is $0.768. Hence, it exhibited a Bart Simpsons pattern over a period of fewer than 4 hours.
Furthermore, while Algorand has been added only to Coinbase Pro at the moment, like Tezos, we can expect addition on coinbase.com in a couple of weeks.
Do you think that Coinbase.com additions will have a hugely positive effect on cryptocurrency prices as it has in the past? Please share your views with us. 
The post Coinbase Pro Adds Support for Algorand [ALGO] – This is How the Price Reacts to it appeared first on Coingape.
Source: CoinGape

Barclays No Longer Offering Support to Coinbase; Exchange Turns to a New Bank

Barclays has ended its relationship with Coinbase UK after having offered banking support to the cryptocurrency exchange for over a year. The reason for this is not yet clear and the cryptocurrency exchange has turned to the U.K. upstart ClearBank for banking support.
The end of Barclays and Coinbase
Coinbase and Barclays had first forged their alliance in early 2018 when the exchange had received an E-money license from UK’s regulatory body, Financial Conduct Authority (FCA). Owing to its association with Barclays, the US-based exchange had access to the U.K. Faster Payments Scheme (FPS) that enabled instantaneous deposits and withdrawals of British pounds at the exchange. 
The end of this relationship with Barclays will cost the exchange in terms of inconveniencing its customers with time-consuming British pound deposit and withdrawals. Coinbase had also published a blog updating its customers regarding the removal of FPS from Coinbase UK. In the blog published on June 24 – 
“Over the next few weeks, Coinbase.com customers based in the UK may experience some inconvenience while we transition our payments systems.”
The exchange is also offering discounts on its trading fees for impacted customers between August 1st and August 15th as compensation for the inconvenience. 
The reason for the end of this relationship is not yet clear, but people are attributing it to a change in Barclays’ stance towards cryptocurrencies. According to the CEO of a U.K. crypto company who refuses to be named, “Barclays’ risk appetite has contracted a little.” 
This revelation comes a few days after the UK’s Tax Authority Her Majesty’s Revenue & Customs (HMRC) ordered crypto exchanges to submit information about customers’ names and transactions to identify individuals who evade taxes. 
ZCash Delisted Because of the New Partnership
The exchange has partnered with U.K. upstart ClearBank for facilitating British pound transactions on the exchange. However, that too has come at a cost for the exchange. It delisted privacy coin Zcash from its platforms, and reportedly, this decision has to do with the partnership with ClearBank. The young bank’s discomfort at getting associated with a platform that supports a privacy-focused tool of transaction in a tightening regulatory environment is understandable. 
Coinbase is expected to regain FPS access by the end of the third quarter, but till then, customers will have to put up with with long processing times for British pound-based transactions on the exchange.
 
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Source: CoinGape

Barclays Broke Up with Coinbase and Put Crypto Relations to Cold

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Barclays Broke Up with Coinbase and Put Crypto Relations to Cold
Coinbase’s partnership with Barclays allowed British clients to use Coinbase extensively. The end of this partnership could also potentially end Coinbase users’ access to the UK “Faster Payments Scheme” (FPS).
Barclays Broke Up with Coinbase and Put Crypto Relations to Cold

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Source: CoinSpeaker

Coinbase Participates in $4.3 Million Funding Round of Crypto Derivatives Platform Blade

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Coinbase Participates in $4.3 Million Funding Round of Crypto Derivatives Platform Blade
Crypto derivatives platform Blade will allow users to trade its perpetual swap contracts in Bitcoin and altcoins with up to 150x leverage. Coinbase, as well as other giants, took part in this funding round.
Coinbase Participates in $4.3 Million Funding Round of Crypto Derivatives Platform Blade

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Source: CoinSpeaker

Breaking: Binance US Reveals its Plan To List 30 Crypto Tokens; Here’s The List

A new trading arm of Binance crypto exchange, Binance US has recently shared a detailed plan of its trading operation. The platform had said that it is considering to list 30 new crypto tokens.
Binance US To List 30 Crypto Tokens
In a blog post, published on August 09, 2019, Binance US explains that it is yet to determine the launch date of trading operation in the United States. Moreover, it is exploring 30 crypto tokens to list at the Binance US exchange.
Per the blog post, it will list Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), XRP,  Stellar Lumens (XLM), Litecoin (LTC), Cardano (ADA), Cosmos (ATOM), Basic Attention Token (BAT), Bitcoin Cash ABC  (BCHABC), DASH, EOS, Ethereum Classic (ETC), HOT, IOTA, LINK, Loom Network (LOOM), MANA, NANO, NEO, PAX, REP, RVN, TUSD, USDC, USDT, VET, WAVES, ZIL, ZRX.

Ahead of the listing, the platform is examining these tokens to ensure they meet Binance’s listing criteria for Binance US. It’s worth to note that Binance stopped serving US customers back in September due to unclear crypto regulatory frameworks but it had rolled out an exclusive US-based fiat-to-crypto exchange during June 2019.
The Binance US will be operated by BAM trading firm which is a FinCen-registered firm in the United States. The branch will spearhead by former Ripple’s employee, Catherine Coley who had recently joined BAM trading as CEO. Notably, the announcement of launch was outlined by Coley via Binance US’s medium blog. She wrote that;
The team and I are eager to share more on what’s ahead for this exciting journey together. We are grateful for your enthusiasm and feedback, which are crucial in this early development.
Since the launch in 2017, Binance.com has already captured significant trading volume and the market observer examines that Binance’s entry in the US could be a direct threat to country’s existing crypto exchanges such as Coinbase. While Binance announces its plan of exploring 30 crypto assets, Coinbase earlier shared an update of considering 8 new crypto assets which include two assets backed by Binance IEO. Moreover, Coinbase hasn’t added Binance’s native token BNB yet whereas it is set to support 2 Binance launchpad projects. With similar note, Binance CEO trolls Coinbase saying; they may have missed one jem, BNB.

Glad to see @Coinbase supporting 2 of the @Binance LaunchPad projects here. West or east, exchanges working together to grow the industry.
They may have missed one jem, $BNB, lol! https://t.co/rzExqefnnR
— CZ Binance (@cz_binance) August 6, 2019

Image Source – Binance US Blog
The post Breaking: Binance US Reveals its Plan To List 30 Crypto Tokens; Here’s The List appeared first on Coingape.
Source: CoinGape

Breaking: Coinbase Exploring Support For Waves And 7 Other New Digital Assets

Coinbase has announced its plans of supporting a new set of digital assets which includes waves and 7 others.
The U.S. based platform which allows for buying and selling of cryptocurrencies announced Monday that it is exploring support for new digital assets. This set of assets, according to Coinbase, must be compliant with jurisdictional regulations and local laws. The assets in view include Waves, Ontology (ONT), Matic Network (MATIC), Harmony (ONE), DASH, Cosmos (ATOM), Algorand (ALGO) and Decred (DCR).
Coinbase is a digital currency exchange which has its headquarters in San Francisco, California. They broker exchanges of Bitcoin (BTC),  Bitcoin Cash (BCH),  Ethereum (ETH), Ethereum Classic (ETC) and Litecoin (LTC) with fiat currencies in around 32 countries globally, and bitcoin transactions and storage in about 190 countries worldwide.
As per the platform’s tweet relating to the development, Coinbase is taking this step in order to fulfill its mission of supporting all its customers desired assets which meet the platform’s standards and also comply with their respective local laws.
According to Coinbase,
Coinbase is exploring the addition of 8 new digital assets. It’s our goal to offer support for all assets that meet our standards and are compliant with local law.
Source: Twitter
 
As the platform didn’t give any more specific information as to when these assets will be supported on the platform, Coinbase informed its community of possibilities of local jurisdictional restrictions to one or more of the listed assets and future cancellation. The platform also takes the opportunity to inform the community of possible signs of engineering works which suggest potential support for any or all of the assets in question.
Promising it’s customers of future support for their cryptocurrencies of choice, Coinbase included that other asset not directly included in the present list may still qualify for support exploration and eventual platform support in the future.
The post Breaking: Coinbase Exploring Support For Waves And 7 Other New Digital Assets appeared first on Coingape.
Source: CoinGape

Grayscale Transfers $2.7 Billion in Crypto To Coinbase Custody

Top Crypto Asset Manager, Grayscale recently transferred a huge amount in Bitcoin and other largest cryptocurrencies to Coinbase custody.
According to the reports, Grayscale’s decision comes as a part of the custodian solution. Nevertheless, Coinbase custody will ensure the security of Grayscale’s largest crypto assets that including; Bitcoin, Ethereum, XRP, Litecoin, Bitcoin Cash, Stellar Lumens, Zcash, Etherum Classic, Horizon. Per the report, the firm plans to transfer nearly $3 billion of assets in fewer than 12 hours to Coinbase.
Grayscale Moves Billions in Crypto Assets To Coinbase Custody
Besides major cryptocurrencies, Coinbase Custody will also serve Grayscale’s publicly quoted crypto trusts and its Grayscale Digital Large Cap Fund that serve exposure to bitcoin and crypto via a market-cap-weighted portfolio; currently, it serves, Bitcoin, Ethereum, XRP, Bitcoin Cash an Litecoin. Sam McIngvale, Coinbase Custody chief executive states that;
“Grayscale and Coinbase have led the way in providing safe, secure, trustworthy, and regulated access to digital assets. Grayscale is an established, trusted, and valuable partner to its clients and its service providers should be the same,”
So far, Coinbase Custody has been serving crypto assets by several other market players. It is the NYDFS-regulated company that assures various security services to digital assets. Mainly, it offers access to a secure, audited and insured custody solution. Moreover, it is recognized as a fiduciary under NY Banking Law and is licensed to provide custody solution to its client’s digital assets in trust on their behalf. Following Grayscale’s announcement of selecting Coinbase over custody solution, Mr. McIngvale explains that;
“As a NY State-chartered trust company, Coinbase Custody is held to the same fiduciary standards as national banks. We also offer some of the broadest and deepest insurance coverage in the crypto industry.”
Nonetheless, its worth to note that the press release points the service incorporation begins on July 29. Accordingly, Coinbase will hold Grayscale’s assets for three years at the outset with a charge on the assets under custody. Moreover, both the parties can terminate the partnership with 90 days notice upon the conclusion of the initial term.
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Source: CoinGape

IRS Issues Warning to Crypto Users, but CPAs Demand More Information

The Tax collection agency of the US Government, the IRS (Internal Revenue System) recently issued strict warnings to 10,000 cryptocurrency investors. The letters iterated that the users might have broken federal tax laws if they have failed to comply with taxes imposed by law.
IRS Commissioner Chuck Rettig told the media,
“Taxpayers should take these letters very seriously. The IRS is expanding efforts involving virtual currency,”
The IRS has expressed worries about the ability of digital currencies to promote tax evasion. Media questioned the IRS about the source they used to obtain the data on the customers. The media suspects that it might have been obtained from Coinbase.
In March 2018, the IRS had procured a court order asking Coinbase to hand over data on customers who sold, sent, or received digital currency worth $20,000 or more between 2013 and 2015.
According to US tax laws, the IRS is required to wait up to three years until it can act against individuals for deficient tax filings. The recent letters sent out by the IRS issued strict warnings to customers. One of the letters required the customer who claimed to have complied by the tax laws to sign a declaration, under penalty of perjury.
Nevertheless, in two other versions of the letter sent to users, the IRS has been entirely lenient and also informed the citizens on steps to follow to be compliant with laws.
Why Are Users in Doubt?
Moreover, the issue is a little more complicated than the willingness of the customers to pay the taxes. Many crypto exchange website does not keep track of all the transactions. Moreover, the users who haven’t recorded data by hand feel helpless and uninformed about the regulations.
Chandan Lodha, chief executive and co-founder of CoinTracker, a digital-currency tax software company told the media,
“This is a problem that people should have been paying attention to for a long time,”
According to an IRS spokesman, there is no explicit requirement that many cryptocurrency sales be reported to the agency by third parties. Sales of stock shares must generally be reported on Form 1099-B to the IRS by the brokerage firm.
However, it seems that there is still some discrepancy between the knowledge base that the accountants can act on. Darren Neuschwander, a Certified Public Accountant, told the media,
“It’s ironic that the IRS is issuing these letters because we’re still waiting to know more rules,”
If you have received the letter and feel unsure about the laws. Please express your views and concerns with us. 
The post IRS Issues Warning to Crypto Users, but CPAs Demand More Information appeared first on Coingape.
Source: CoinGape

Coinbase Crypto Milestone: Amasses 30M Users, 5M in Last 10 Months

San Francisco-based crypto exchange Coinbase, is among the clear leaders in the crypto industry, helping to shape and define the future of the space and what products are offered to the market’s participants. It is also the most commonly used fiat-to-crypto gateway in the United States – a market that consists of the largest portion of investors across the globe.
According to new data shared by renowned Bitcoin entrepreneur and startup investor Alistair Milne, Coinbase has amassed a massive user base of 30 million users, with as much as 5 million new users added over the last ten months as Bitcoin found its bottom and began to rise once again. After such a major milestone, where does the world’s most well-known crypto exchange go from here?
Coinbase Reaches Staggering 30 Million Users, Sees Over 15% Increase In 10 Months
Around the time Bitcoin hit the mainstream public and reached its all-time high of $20,000 at the tail end of December 2017, Coinbase topped Apple’s App Store as the most popular app in the finance category, showing the world that crypto was a force to be respected. Since then, Bitcoin fell into a bear market and the entire asset class has since struggled, but has recently showed a glimmer of hope once again with trading volume surging and interest once again returning to the industry.

Coinbase has passed 30million users this month(adding 5million users in the last ~10 months)#bitcoin pic.twitter.com/3SNO7HwBxg
— Alistair Milne (@alistairmilne) July 22, 2019

Coinbase CEO Brian Armstrong pushed his team to stay strong during the 2018 bear market and use the downtrend to build a solid foundation for when the bull market resumed. While a full blown bull market may not be here yet, over the last ten months during that time, Coinbase was able to add an additional 5 million users, or an additional 16.6% to its already massive userbase.
What’s Next for the Leading US-Based Crypto Exchange?
In a recent live YouTube AMA, a segment where someone invites an audience to “ask me anything,” popularized by a Reddit subreddit of the same title, Armstrong revealed that he wants to take his firm beyond just crypto trading, but to pursue pushing widespread adoption of cryptocurrencies by offering an extensive list of services beyond trading.
But Coinbase and the rest of the crypto market may be headed into uncharted territory soon once regulation hits the industry. Crypto has long been said to be a “wild west” type environment rife with scams, crime, and shady players. The CFTC and other chief financial regulators will soon be targeting businesses that don’t comply with law, starting with BitMEX.
Related Reading | US Congressman: You Can’t Kill Bitcoin, Libra And Others Trying to Mimic
While Coinbase does comply, and isn’t at the same risk BitMEX may be, even a recent Squawk Box segment had CNBC technology correspondent Josh Lipton posited a question on what happens to Bitcoin and crypto if “Coinbase cannot accept money from a US citizen,” in reference to the recent burst of regulatory pressure from President Donald Trump, the Secretary of Treasury Steven Mnuchin  and a wide variety of politicians and pundits that are opposed to the asset class. While such a move is unlikely, and Bitcoin cannot be killed, it would still hurt the industry and significantly damage Coinbase as a business.
The post Coinbase Crypto Milestone: Amasses 30M Users, 5M in Last 10 Months appeared first on NewsBTC.
Source: New feedNewsBTC.com

Coinbase’s Brian Armstrong calls for a collective effort from crypto-businesses

Although cryptocurrency’s ability to become a global currency has been applauded by many, few understand its ripple effect on cross-border applications. A common example are OFAC rules that prohibit U.S. citizens from making transactions to countries such as North Korea and Iran. Brian Armstrong, CEO of Coinbase, recently shared the need for a collective effort […]
The post Coinbase’s Brian Armstrong calls for a collective effort from crypto-businesses appeared first on AMBCrypto.
Source: AMB Crypto

Justin Sun’s guest list gets a new addition, Bakkt to launch user testing for BTC Futures and more

Crypto News – 22 July – Justin Sun’s guest list gets a new addition, Bakkt to launch user testing for BTC Futures and more Don’t forget to follow us for our daily videos pic.twitter.com/7xkcVpW9FB — AMBCrypto (@CryptoAmb) July 22, 2019 Crypto News – 22 July Tron hits a home run: The Tron community celebrated after it […]
The post Justin Sun’s guest list gets a new addition, Bakkt to launch user testing for BTC Futures and more appeared first on AMBCrypto.
Source: AMB Crypto

Coinbase Deposits in the U.K. Now Takes 10 Days with Minimum Deposit £1000

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Coinbase Deposits in the U.K. Now Takes 10 Days with Minimum Deposit £1000
Recent reports show that Coinbase has changed the minimum deposit for U.K. customers. Now the minimum deposit is £1000 staff has confirmed in private e-mails on July 16.
Coinbase Deposits in the U.K. Now Takes 10 Days with Minimum Deposit £1000

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Source: CoinSpeaker