Coinbase acquires the team of crypto wallet provider BRD as the price of utility tokens soars by 500%

Crypto wallet provider BRD stated that after the acquisition from Coinbase, the major U.S. cryptocurrency exchange, users “will not change anything”.

In a letter to BRD users on November 24, CEO Adam Traidman and co-founder Aaron Voisine Said Some team members of the company will transfer to Coinbase to continue developing crypto wallets. Coinbase wallet Said On Twitter, the addition of the BRD team will “help accelerate the adoption of web3” and provide “deep expertise in self-management”.

BRD executives said: “The BRD wallet application will not change, and your funds will remain safe and reliable as always.” “In the future, BRD wallet users will have an optional migration path to use Coinbase wallet for self-custody.”

BRD, formerly known as Breadwallet, is behind the utility token Bread (BRD).According to CoinMarketCap’s data, the token price Soaring Within two hours after the Coinbase acquisition news came out, it rose by more than 500%, from approximately US$0.16 to US$1.01.

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BRD announced a number of expansions in 2020, including Update its wallet compatibility It is allowed to store Hedera Hashgraph’s HBAR token in June. In September, the company partnered with Ciphertrace, Chainalysis, Elliptic, and Unbound Tech to help Introduce its data integration platform Used by financial institutions and crypto companies that are considering providing custody solutions.