BRD’s Calm Assurance
In a move that sent shockwaves through the crypto community, BRD, the wallet formerly known as Breadwallet, assured its users that “nothing will change” following its acquisition by Coinbase. In a heartfelt letter, CEO Adam Traidman and co-founder Aaron Voisine eased any worries, asserting that their users’ funds remain as secure as a vault filled with gold coins.
Team Transition to Coinbase
Some key members of the BRD team are packing their bags (metaphorically, of course) and moving over to Coinbase. This transition aims to enhance the wallet services and accelerate the adoption of web3—a term that’s becoming buzzier than a beehive in springtime. Coinbase Wallet expressed that the addition of BRD’s team would foster a deep expertise in self-custody—because who wouldn’t want to be the parent of their own crypto funds?
The Token Surge
As news of the acquisition spread, the price of BRD’s utility token, fittingly named Bread (BRD), skyrocketed by over 500%! I mean, who doesn’t love a good price surge? The token jumped from approximately $0.16 to $1.01 in just a few hours, making investors feel like they hit the jackpot in Vegas.
Future Plans for BRD Users
For current BRD users, there’s no need to worry about the app doing a disappearing act. The BRD execs reassured users that their beloved wallet would remain unchanged for now. However, they did hint at an exciting future: an optional migration path to self-custody with Coinbase Wallet. It’s like saying, “You can stay here for the party, or you can migrate to the VIP section later!”
BRD’s Previous Growth
BRD has not been standing still in recent years. In 2020, it broadened its horizons by enabling the storage of Hedera Hashgraph’s HBAR token. Additionally, they partnered with notable firms like Ciphertrace and Chainalysis to bolster their data integration platform, bringing custody solutions closer to those fancy financial institutions and other crypto firms.
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