Coinbase has reportedly attracted a $20 billion hedge fund for its custody service. Major U.S . crypto wallet and exchange Coinbase has reportedly secured a $20 billion hedge fund for its custody service, Business Insider reports July 19. Coinbase launched “Coinbase Custody,” its digital assets custodian solution for large institutional investors, on July 2. The new service is notably secured through an independent broker, Electronic Transaction Clearing (ETC), that operates in compliance with the U.S. Securities and Exchange Commission ( SEC ). People familiar with the matter told Business Insider that Coinbase had both secured the unnamed $20 billion hedge fund and is also seeking partnerships with other large hedge funds. The anonymous sources also revealed that Coinbase is planning to offer margin financing, possibly by the end of the year, that would permit institutional investors to borrow to trade. Robert Hockett, a professor of law at Cornell University, told Business I...
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