BitGo: Xapo customers are "extremely worried" about Coinbase's acquisition of its institutional hosting business

On August 14th, cryptocurrency company BitGo said that after Grayscale's recent initiatives, Xapo customers don't think CoinbaseCustody is a "comparable service", BitGo claims that in response, BitGo now offers Xapo customers 12 months. Free hosting service. According to a report in May, Coinbase is negotiating for the acquisition of Xapo's institutional custody business. According to one source, the cryptocurrency exchange launched a close competition with Fidelity Digital Assets in the deal. BitGo also considered the deal. The deal has not been confirmed, but earlier this month, cryptocurrency management company Grayscale Investments transferred $2.7 billion in cryptocurrencies from Xapo Wallet to Coinbase Custody, which market speculators speculate is part of the acquisition.