Yesterday, August 2, the Grayscale Investiments site transferred nearly $ 3 billion in crypto to Coinbase.
The biggest cryptocurrency transfer ever took place.
According to Forbes, Grayscale has moved all its cryptocurrencies including Bitcoin, Bitcoin Cash, Litecoin, Ethereum, Ripple, Stellar, Zcash, Ethereum Classic, Horizen to Coinbase.
All these crypto have been "entrusted" to Coinbase Custody who will take care of preserving them.
Coinbase Custody's director Sam McIngvale said:
"Grayscale and Coinbase are two companies at the forefront of secure, reliable and regulated access to digital assets. Grayscale is a consolidated, trusted and valuable partner for its customers, and the same goes for their services.
As a trust company operating in the State of New York, Coinbase Custody must by law comply with the same criteria as national banks. Our company also offers one of the largest and deepest insurance coverage of the entire cryptocurrency industry. "