As investors look for alternatives to traditional assets, bitcoin could evolve from a speculative bet into a legitimate pillar of the global financial system, the bank said.
The decline followed a supposedly dovish Fed interest-rate cut, which was expected to weaken the dollar and encourage more risk-taking in crypto markets.
Crypto stocks tumbled in pre-market trading as bitcoin and ether extended heavy overnight losses, fueling $1.6 billion in liquidations across derivatives exchanges.
The introduction highlights a push to tie the XRP ledger into cross-chain liquidity flows, with returns projected at 6%–8% dependent on strategy performance.
More than 400,000 traders saw positions wiped out as leveraged longs in ether, dogecoin, XRP and other majors fueled the largest crypto liquidation event in months.
Brian Armstrong told Fox Business that Coinbase aims to be users’ primary financial account while addressing U.S. crypto rules and pressure from banks.