Coinbases investing into stablecoin reserves ETF issued by ProShares

- Coinbase is back to playing banker. They’re investing in the ProShares GENIUS Money Market ETF, a $22 billion fund that launched this year. Yes, GENIUS. Because nothing says "decentralized revolution" like parking capital in a traditional money market vehicle managed by legacy finance. It’s not DeFi, it’s not Bitcoin, and it’s certainly not moon-bound. It’s just stablecoin reserves wearing a suit and tie, pretending to be innovative. While the rest of us watch BTC crash again, Coinbase is busy optimizing yield on fiat-adjacent assets. Smart? Maybe. Crypto? Barely. But hey, if you want your digital gold backed by institutional bureaucracy, this is your new home. Enjoy the stability while the real market burns.