$1B In Government-Linked BTC Transferred, Some To Coinbase – March 8

By / Bitcoin, Cryptocurrency, Daily, Ethereum

📈 30 Second Cryptocurrency Price Summary

Current Bitcoin Price: $22,064

Bitcoin price is currently defending support at $22,000, as strength appears to be wavering across markets.

Top-20 altcoins are mostly down once again, with the exceptions of XRP and Shiba Inu, which have gained 5% and 6%, respectively. Ether remains unchanged.

Top Stories for March 8, 2022 🔥

👉 $1B In Government-Linked BTC Transferred, Some To Coinbase

More than 50,000 BTC, worth $1 billion, have been moved from US law enforcement agency wallets – with some making its way to Coinbase.

The Bitcoin, which was confiscated from the Silk Road marketplace in November 2021, was consolidated into two wallet addresses, with approximately 9,861 BTC being sent to Coinbase.

The movement of the BTC from the US enforcement agency-linked wallets has evoked wild reactions and theories from the crypto community.

👉 Binance.US Approved To Buy Voyager Digital

Binance.US has been given the go-ahead to buy the assets of failed crypto lender Voyager Digital in a $1 billion deal, after a US federal judge confirmed the restructuring plan.

Judge Michael Wiles acknowledged objections from the SEC, other regulators, and some creditors, but said he had not seen evidence that suggested Binance.US should be denied.

Wiles proposed changes to the final restructuring plan, including tweaks to an exculpation provision for parties who carry out the transaction and details about how Binance.US will handle customer data.

👉 Coinbase Launches “Wallet As A Service” To Improve Crypto Onboarding

US crypto exchange Coinbase is launching a “wallet as a service” offering, that will enable companies to tailor blockchain wallets for their customers.

The service is designed to allow companies to include almost invisible wallets within their apps, which could be particularly useful for gaming apps featuring tokens or non-fungible tokens.

Coinbase said the move was aimed at helping firms to attract the next wave of customers to web3, and avoids the use of 24-word seed phrases for ease-of-use for the end user.