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This now explains Brian Armstrong's tweet about 200M in crypto being deposited weekly. They are currently in the transition of coin storage from XAPO to Coinbase custody.
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"Seed Phrase/Private Key Storage Frozen Armor-BITHD #Crypto-wallet"
Next: Xapo is no longer available outside the US.
With all the lawsuits and litigation against Coinbase I'm surprised they have time for this.
Maybe looking to expand their tracking and reporting business for the IRS.
So Coinbase owns the Citadels? I am disappoint
BTW. That is the custodian of the Grayscale Bitcoin Trust ( $2.4 billion dollar wallet )
Their CEO just tweeted about it too.
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