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Coin Edition 2023-06-06 12:18:00

MakerDAO Transfers $500 Million to Coinbase Custody

Crypto lending protocol MakerDAO transferred $500 million to global cryptocurrency exchange Coinbase’s custodial subsidiary, Coinbase Custody. Through this move, MakerDAO ensures an annual rewards rate of 2.6%, which translates to an estimated annual profit of 13 million DAI. Regarding the transfer, Coinbase Institutional (@CoinbaseInsto) tweeted: Yesterday, MakerDAO revealed Coinbase deployed 500 million DAI from the The post MakerDAO Transfers $500 Million to Coinbase Custody appeared first on Coin Edition .

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