Crypto Whales Dive Deep Amid SEC's Binance Charges, Spotting Opportunities In Turbulence
Portfolio Pulse from Murtuza Merchant
Despite market volatility following the SEC's charges against Binance, institutional investors and blue-chip firms are taking advantage of lower prices to purchase tokens. Notable transactions include Cumberland withdrawing 67.9 million USDC from Circle and depositing 67.1 million USDC into Coinbase, and FalconX receiving 37 million USDC from Circle and depositing 29.5 million USDC into Binance.
June 06, 2023 | 3:33 pm
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Cumberland withdrew 67.9 million USDC from Circle and deposited 67.1 million USDC into Coinbase, indicating increased trading activity.
The large transaction of USDC into Coinbase by Cumberland suggests increased trading activity on the platform, which could lead to higher revenues for Coinbase in the short term.
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