Coinbase Sent 5% Of All Bitcoin (BTC), More In $5 Billion “Crypto Migration”

Coinbase Sets Industry Record With “Crypto Migration”

A few weeks back, “whale watching” Twitter pages — accounts that track notable crypto wallets — saw an abnormal influx of reported “sightings.” Initially, a majority of commentators cast aside the transactions — which amounted to hundreds of millions of dollars in Bitcoin (BTC), Ethereum (ETH), and others — as somewhat odd, but nothing to write home about. Some seeming “crackpot” theorists speculated that the transactions could be attributed to Coinbase and its secretive operational security practices.

While some cast aside the aforementioned theory as rumors, in a recent blog post, the San Francisco-based startup revealed that many of those “whale” transactions were, in fact, its own security measures.

Earlier this month, Coinbase moved 5% of all BTC, 8% of all ETH, and 25% of all LTC in circulation to our next-gen secure cold storage. Here’s how we did it. https://t.co/8TJ6S97BnW

— Coinbase…