Tag Archives: coinbase

Coinbase to Migrate BTC and ETH Wallets for Security Upgrades

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In Brief Coinbase upgrades internal wallets to improve security for BTC and ETH. No downtime expected as Coinbase migrates funds between wallets. User deposits remain unaffected during Coinbase’s wallet migration process. Coinbase has initiated the migration of Bitcoin (BTC) and Ethereum (ETH) from legacy internal wallets to new systems. The company explained that this is a routine update designed to enhance the security of its platform and infrastructure. This wallet migration is a standard security practice, carried out periodically to reduce the long-term exposure of funds. Coinbase confirmed that this upgrade is not in response to any external threats or market changes, and it will not impact user balances or trading activities. No Service Disruption Expected During Migration Coinbase assured users that there will be no downtime during the migration process, and trading, sending, and receiving digital assets will continue as usual. The large transfers observed on the blockchain are part of Coinbase’s internal reorganisation and do not represent withdrawals or sales of assets. Additionally, the company emphasized that user deposit addresses will remain unchanged throughout the migration. Coinbase also cautioned users to remain vigilant against potential phishing attempts, as scammers may try to exploit the migration process. The exchange’s decision to migrate funds is part of its ongoing effort to upgrade its internal security measures. These improvements are essential as Coinbase continues to expand and serve a growing global user base. By moving to newer wallets with more advanced security features, Coinbase is reinforcing its commitment to maintaining a secure platform. The company also highlighted that these upgrades are part of its long-term strategy to optimize asset management and comply with evolving security standards. Coinbase’s internal wallet migration process demonstrates its proactive approach to safeguarding digital assets. Users can expect uninterrupted service during the transition, with all funds remaining secure and accessible throughout the upgrade.
https://bitcoinethereumnews.com/bitcoin/coinbase-to-migrate-btc-and-eth-wallets-for-security-upgrades/

Coinbase (COIN) Stock: Exchange Ends $2 Billion BVNK Acquisition Talks

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**Coinbase Ends Acquisition Talks with UK-Based Stablecoin Startup BVNK**

Coinbase has walked away from acquisition negotiations with UK-based stablecoin infrastructure startup BVNK, ending a deal that would have been one of the largest in digital payments history. The talks, which progressed to an exclusivity agreement in October, were mutually ended by both parties without any specific reasons provided.

The proposed acquisition was valued between $1.5 billion and $2.5 billion. Coinbase had reportedly emerged as the frontrunner in the bidding process, beating out major players like Mastercard, which was also exploring a purchase of BVNK earlier this year.

### Expansion of Cross-Border Payments and Merchant Services

If completed, the acquisition would have significantly expanded Coinbase’s presence in cross-border payments and merchant services. While Coinbase already issues the USDC stablecoin through its partnership with Circle, BVNK specializes in stablecoin infrastructure tailored for businesses. The startup helps companies integrate stablecoin payments into their operations, focusing on cross-border transactions and merchant processing.

Adding BVNK to its portfolio would have complemented Coinbase’s existing position in the stablecoin market and broadened its service offerings beyond just issuing stablecoins.

### Growing M&A Activity in the Stablecoin Sector

The collapse of the BVNK deal comes amid a wave of consolidation in the stablecoin and crypto infrastructure sector. In 2024 alone, several large companies have made significant acquisitions:

– Stripe acquired Bridge for approximately $1.1 billion to strengthen its crypto payments capabilities.
– Mastercard is currently in talks to acquire Zerohash, a deal reportedly valued between $1.5 billion and $2 billion.

These moves highlight increasing interest from traditional financial companies in stablecoin technology as a means to enhance cross-border payment solutions.

### Coinbase’s Recent Acquisition Moves

Under the current administration, Coinbase has actively pursued acquisitions to bolster its offerings. Notably, the exchange completed a $2.9 billion purchase of derivatives trading platform Deribit in August.

### Coinbase’s Existing Stablecoin Position

Coinbase maintains a close relationship with Circle through their previous partnership within the CENTRE Consortium, which created the USDC stablecoin. USDC is the second-largest stablecoin by market capitalization, and Coinbase remains one of the primary platforms for its trading and distribution.

Unlike Circle, BVNK does not issue a stablecoin but instead provides infrastructure enabling businesses to adopt stablecoin payments—making it a strategic addition for Coinbase had the deal gone through.

### Conclusion and Next Steps

A Coinbase spokesperson confirmed the end of talks but declined to share further details. Fortune first reported the news, noting that both companies entered the exclusivity period after several months of negotiations starting earlier in 2025. During this period, BVNK was barred from discussing the deal with other potential buyers.

As the stablecoin ecosystem continues to evolve, industry watchers will be keen to see how Coinbase and other major players adjust their strategies in the increasingly competitive digital payments landscape.
https://coincentral.com/coinbase-coin-stock-exchange-ends-2-billion-bvnk-acquisition-talks/

XRP Macro Wick 2 Target $50 as Analyst Says XRP Still in a Bullish Phase

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**XRP Remains in a Powerful Accumulation Zone, Analyst EGRAG Maintains Bullish Outlook**

*Written By: Sam Wisdom Raphael | Follow TheCryptoBasic*

EGRAG Crypto, a well-regarded XRP community analyst, insists that XRP remains within a powerful accumulation zone despite recent market turbulence. His bullish stance arrives at a time when XRP has corrected alongside the broader crypto market amid widespread uncertainties.

Between November 3 and 4, the total crypto market capitalization lost nearly $350 billion, with XRP collapsing 13.16% during this period, dropping to the $2.20 price level.

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### XRP Still in a Bullish Position

Despite the recent pullback, EGRAG remains confident in XRP’s long-term prospects. In his latest analysis, EGRAG confirmed that he is presenting his commentary without fear despite the market bloodbath.

He explains that his optimism is rooted in the fact that nothing has changed on the higher timeframes, as XRP continues to maintain its long-term bullish structure.

EGRAG highlights a significant data distortion that occurred on October 10 across several exchanges including Binance, Bitstamp, and Coinbase. Although this distortion led to conflicting data, he identifies $1.40 as the true low on October 10.

According to the analyst:

> “As long as XRP holds above the $1.94 support area, it maintains its bullish structure.”

Within this support zone, XRP remains in one of the most powerful accumulation zones seen by investors. EGRAG urges investors to capitalize on this level while panic is prevalent, warning that hesitation could lead to regret later.

Data from his chart shows that XRP continues to trade within a range it formed after a drop from $3.40 in January 2025. During the crash on October 10, the altcoin retested the lower trendline of this range, but bulls stepped in to defend the support and XRP rebounded back into the range.

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### Micro Wick Target at $10; Macro Wick Target at $50

As XRP trades near the lower trendline of this structure, EGRAG remains bullish. He explains that should the recovery lead to an upward breakout, the first target — which he calls Micro Wick 1 — stands at $10. This target represents a 326% increase from XRP’s current price of $2.34.

Furthermore, EGRAG notes that, if the ongoing correction corresponds to a Macro Wave 2 pullback, the subsequent Wave 3, which would signify the recovery phase, could target a price range between $14 and $25. This projection is based on 1.618 times the increase observed during Wave 1.

EGRAG also highlights the possibility of a Macro Wick 2 following Micro Wick 1. He references some analysts predicting that XRP could revisit the low point of $0.77 seen during the crash on Binance’s exchange on October 10.

However, he argues that:

> “If the market fills the downward wick to $0.77 on Binance, it could also fill the upward wick on Gemini to $50.”

For context, shortly after Gemini listed XRP for the first time in August 2023, a brief price spike occurred reaching $50 due to thin order books. According to EGRAG, if XRP does move toward filling such wicks, the $50 mark represents a real blowoff wick target.

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### Disclaimer

This content is for informational purposes only and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not necessarily reflect the views of The Crypto Basic. Readers are encouraged to conduct thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses incurred.

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### About the Author

Sam Wisdom Raphael is a seasoned crypto news writer and journalist with five years of experience covering blockchain, DeFi, and cryptocurrency developments. His active presence in the crypto community complements his deep understanding of the space, enabling him to craft clear price analysis reports and explain technical blockchain concepts.

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### Related Articles and Market Insights

– **Market Veteran Targets XRP Rally to $4.50, Says XRP Consolidation Period Is Over**
Experienced market analyst CasiTrades indicates XRP is heating up after a bullish breakout, targeting a rally to an all-time high.

– **Cardano Falling Wedge Breakout Eyes Run to $1.2 Before Uptick to $2.91**
A well-known crypto chartist suggests Cardano may be poised to break a four-year peak after a falling wedge breakout.

– **Bitcoin Dominance Hits a Tipping Point as Analyst Sees Altcoin Season Ahead**
Market veteran Michaël van de Poppe anticipates a Bitcoin dominance breakdown could herald an altcoin season.

– **Ethereum Closes in on Bitcoin Annual Performance Following Strong Q3**
Ethereum nearly matched Bitcoin’s annual performance following its strong gains in Q3.

– **Citibank Predicts Bitcoin to Hit $231K, Ethereum $7.5K Within Months**
Global banking giant Citibank releases new 12-month price targets for Bitcoin and Ethereum.

– **XRP Could Surge if Ripple Captures 40% of $50T B2B Payments Market by 2032**
Ripple’s targeting of the B2B cross-border payments market could significantly boost XRP’s price.

– **Shiba Inu Falls to 23-Month Low – Analyst Discusses Future Prospects**

– **Dogecoin Eyes Bull Cycle Repeat; Analyst Predicts Possible Surges**

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Stay tuned for more updates and in-depth crypto analysis here at The Crypto Basic.
https://thecryptobasic.com/2025/11/06/analyst-xrp-bullish-phase-macro-wick-target-50/

Despite gov’t shutdown, crypto market structure bill ‘90% there’ — Coinbase CEO

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Coinbase CEO Brian Armstrong has expressed optimism that US senators are moving closer to advancing key cryptocurrency market structure legislation by Thanksgiving. He suggested that there is now far more agreement across both sides of the aisle than differences.

“Even though the government is shut down, the Senate is working hard on getting market structure legislation passed for crypto,” Armstrong said in a video posted on X.

According to Armstrong, roughly 90% of the legislative framework has already been agreed upon, with the remaining 10% focused on issues like decentralized finance (DeFi). He added that policymakers are looking for ways to protect innovation while ensuring that “centralized intermediaries, like Coinbase, should be regulated, not the protocols.”

Armstrong also underscored the importance of “preserving stablecoin rewards” following the passage of the GENIUS Act earlier this year. The Act set federal standards for stablecoin reserves, transparency, and consumer protections.

“The big banks are coming for their cash grab, trying to block that,” Armstrong said. “We’re not going to let them re-litigate that.”

### Banking Lobby Pushback on the GENIUS Act

Armstrong’s criticism of the banking industry comes amid strong opposition from many lobbyists to the GENIUS stablecoin act, particularly over what they view as a loophole allowing interest payments.

While the GENIUS Act explicitly prohibits stablecoin issuers from offering interest or yield, this restriction does not apply to exchanges, according to the Bank Policy Institute (BPI). By excluding crypto exchanges like Coinbase, “the requirements in the GENIUS Act can be easily evaded and undermined by allowing payment of interest indirectly to holders of stablecoins,” the BPI stated.

As reported by Cointelegraph, banking lobbies have grown increasingly concerned that stablecoins could threaten their traditional business model, which currently offers depositors minimal interest.

Industry insider and New York University professor Austin Campbell noted that bankers are “panicking” over the prospect of stablecoin holders earning yields.

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**Related:** Boom in RWA Tokenization Expected After Passing of GENIUS Act
https://cointelegraph.com/news/brian-armstrong-senate-crypto-legislation-genius-act-stablecoin?utm_source=rss_feed&utm_medium=feed&utm_campaign=rss_partner_inbound