🏆Coinbase Acquires BRD Crypto Wallet

🟩The price of BRD’s utility token rocketed about 500% following the announcement of the deal.

Today, Coinbase announced that it is bringing on the team from BRD — a crypto wallet startup that first launched its mobile wallet back in 2014. While the team is transitioning over to Coinbase, BRD’s co-founders say nothing will be changing for BRD users for the time being, and that their wallets will continue to operate normally, and that user “funds are safe and secure.”

Coinbase Wallet is a self-custody wallet that gives users control over their own private keys. The main difference from the wallets offered to users on the Coinbase exchange platform, which are controlled by Coinbase itself.

The app was originally launched in 2014 under the name “breadwallet” and achieved a userbase of 10 million.

BRD suggested that its own wallet will continue to operate normally for the time being and that users will be given the option to migrate to Coinbase Wallet in 2022. According to Trainman and Voisine, BRD wallet users will have an "optional migration path to self custody with Coinbase Wallet, which will include a special gift."

The token’s value beyond the app is determined entirely by market forces, which have worked largely in its favor today BRD Wallet Token Up 588% on the news.

In other news, footwear company Adidas also announced today that it has partnered with Coinbase but has revealed few details about its plans.

Disclosure: At the time of writing, the author of this piece held less than $100,000 of BTC, ETH, and altcoins.