Tesla Tapped Coinbase for $1.5B Bitcoin Buy: Report

Coinbase’s institutional trading wing handled electric car-maker Tesla’s $1.5 billion bitcoin investment earlier this month, according to The Block.

The report illustrates Coinbase’s growing role as corporate America marches deeper into crypto. Coinbase handled MicroStrategy’s early allocations and The Block reported it has five Fortune 500 firms as clients.

CoinDesk could not independently confirm the report at press time Wednesday. Coinbase declined to comment.

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