TechFlow reports, citing CryptoSlate and confirmed by data from Arkham Intelligence, Glassnode, and Coinglass, that over 18,000 bitcoins were withdrawn from Coinbase during today's Asian trading session. These funds were sent to several different addresses, with the new wallets holding balances ranging from $45 million to $171 million, and all UTXOs from the initial transactions have already been spent.
Coinbase currently holds approximately 390,000 bitcoins, worth about $20.5 billion. This balance represents less than 2% of the total bitcoin supply held by exchanges—the lowest proportion since 2015.
Previous report: Coinbase’s merchant payment platform has discontinued support for native Bitcoin and other UTXO-based tokens. CEO Brian Armstrong stated that a Coinbase account is now required to conduct merchant payments.
