The Daily: SpaceX moves $270 million worth of bitcoin, Coinbase acquires Cobie’s crypto investment platform Echo, and more
SpaceX moved $270M in Bitcoin, Coinbase bought Echo for $375M, and the Fed signaled crypto embrace.Summary
The daily crypto news roundup highlights several major events. SpaceX executed its first Bitcoin transfer since July, moving approximately $268.5 million in nearly 2,500 BTC, though the purpose is unclear, possibly a wallet reorganization. Meanwhile, Coinbase agreed to acquire the onchain investment platform Echo, founded by Jordan "Cobie" Fish, for $375 million in cash and stock, with plans to integrate Echo's token sale product, Sonar, into Coinbase.
Federal Reserve Governor Christopher Waller indicated a shift in the Fed's stance, stating crypto is being woven into the financial system and proposing "skinny master accounts" for crypto payment facilitators. In market news, spot gold experienced its largest one-day slide in over five years, potentially due to traders rotating capital into Bitcoin, which climbed back toward $113,800. Finally, Tether announced its USDT stablecoin has reached 500 million users, with its total supply nearing a record $182 billion.
(Source：The Block)