CoinbasePrime

🔔 MARKET MOVING NEWS! (09/08/25)

1️⃣ Ethereum Cracks $4,000 for First Time in 8 Months 📈
#ETHBreaks4000
The price of ETH broke above $4,000 yesterday for the first time since December 2023, marking an 8-month high. This milestone comes as Ethereum rallied more than 50% over the past 30 days. The rally is driven by a number of factors, including heightened transaction activity on the Ethereum blockchain, increased staking, strong demand for ETH corporate treasuries, ETFs and regulatory developments favourable to crypto.

2️⃣ Harvard Reports $116M Stake in BlackRock’s iShares Bitcoin ETF in Latest Filing 🔍

Harvard University has disclosed a $116 million stake in BlackRock’s iShares Bitcoin Trust (IBIT) in its latest quarterly 13-F filing with the U.S. Securities and Exchange Commission (SEC) for holdings as of June 30, 2025. This investment, managed by the Harvard Management Company overseeing the university's $50 billion endowment, marks one of the largest known bitcoin allocations by a U.S. university endowment.

3️⃣ Swiss Bank Sygnum Launches Regulated SUI Custody and Trading for Institutions 💎

Swiss digital asset bank Sygnum has launched regulated custody, spot trading, and derivatives trading for SUI in partnership with the Sui Foundation. The initiative addresses rising demand from institutional clients like banks, asset managers, and high-net-worth individuals for secure crypto exposure. Staking is expected to launch in the coming weeks, with loans scheduled for the fourth quarter. All SUI holdings will be kept off Sygnum's balance sheet and structured to be bankruptcy-remote.

4️⃣ Coinbase Launches DEX Trading For US Users Amid Volume Decline ✨
#CoinbasePrime
Crypto exchange Coinbase has added a decentralized exchange (DEX) integration to its main app. This will allow U.S. users (excluding New York State) to trade "millions" of digital assets directly within its app, leveraging its Ethereum Layer 2 network Base. The DEX feature will initially focus on Base-native tokens for projects such as Virtuals AI Agents, Reserve Protocol DTFs, SoSo Value Indices, Auki Labs, and Super Champs. However, the company plans to expand the feature to additional markets and networks, starting with Solana. The rollout comes amid a decline in Coinbase's spot trading volumes and Q2 revenue, as it faces competition from platforms like Kraken and Robinhood, which offer broader asset selections and lower fees.

5️⃣ Credix Team Vanishes After $4.5 Million Exploit, Deletes Socials And Takes Website Offline ‼️

The operators of CrediX, a decentralised lending platform, have reportedly vanished following a $4.5 million exploit on August 4, 2025. In what seems to be an exit scam, the project’s X (formerly Twitter) account has gone inactive and website taken offline. For context, CrediX has initially assured users of reimbursements within 24-48 hours and advised direct contract withdrawals after the exploit. However, no recovery plan has since materialised and communication ceased entirely. #

Key Takeaways:
Coinbase Prime is likely the custodian of MicroStrategy’s 597,325 $BTC , based on CEO Brian Armstrong’s disclosures.Michael Saylor’s refusal to publish proof-of-reserves is challenged by on-chain data and Coinbase’s public statements.The debate over transparency vs. security intensifies as social engineering risks loom large.
A new wave of speculation has hit the crypto world as Coinbase CEO Brian Armstrong appears to have revealed the likely custodian of MicroStrategy’s colossal Bitcoin stash. Despite Michael Saylor’s long-standing resistance to disclosing wallet details, Armstrong’s tweet suggests that Coinbase Prime holds the keys to one of the largest BTC treasuries in existence. 
Coinbase Prime: The Silent Custodian?
MicroStrategy, led by Bitcoin evangelist Michael Saylor, holds nearly 600,000 $BTC , making it the largest corporate holder of Bitcoin globally. While Saylor has consistently avoided publishing proof-of-reserves, citing security concerns, Armstrong’s recent tweet implies that eight of the top ten publicly traded BTC-holding firms use Coinbase Prime. That statistic alone gives MicroStrategy an 80% likelihood of being among them.
Further evidence supports this theory:
MicroStrategy uses Coinbase’s BTC price for SEC filings.On-chain analytics from Arkham suggest Coinbase Prime Custody fees are linked to MicroStrategy’s wallet movements.The firm refers to Coinbase as its “principal market for bitcoin,” strengthening the case for custodianship.
This indirect confirmation raises questions about the effectiveness of “security through obfuscation” and whether institutional transparency should take precedence.
Transparency vs. Security: A Crypto Dilemma
Armstrong’s disclosure has sparked controversy. Critics argue that revealing custodial relationships could expose firms to social engineering attacks—a concern Saylor has repeatedly emphasized. Verizon’s data shows that social engineering accounts for up to 68% of breaches when human error is included. Coinbase itself has faced such attacks, including bribery of customer service reps and phishing attempts targeting employees.
Yet, others believe that institutional players should embrace transparency, especially when holding billions in digital assets. Zero-knowledge proofs and cryptographic alternatives may offer a middle ground, allowing firms to prove solvency without compromising security.
As the crypto ecosystem matures, the tug-of-war between privacy and accountability will only intensify. For now, Coinbase’s subtle nod may have pulled back the curtain on one of Bitcoin’s most closely guarded secrets.
#CoinbasePrime #MicroStrategy

$BTC Chief U.S. District Judge Richard Seeborg authorized the sale of 69,370 bitcoins $BTC , which were seized in connection with case #SilkRoad - a well-known marketplace on the darknet used for illegal transactions.
🔹#SilkRoad this was an online marketplace in the darknet where illegal goods and services were sold, including drugs and weapons. It was shut down by U.S. law enforcement in 2013.