Massive Sell-Off Alert!
U.S. moves $470 million seized from FTX and Bitfinex to Coinbase Prime
Addresses linked to the U.S. government transferred approximately $470 million in #bitcoin (#BTC ), Wrapped Bitcoin (WBTC), and #Tether (USDT) to deposit addresses at Coinbase Prime.
According to on-chain tracking data from Arkham Intelligence, these assets are part of the seizures linked to funds recovered from the hack of #Bitfinex and the bankruptcy of Alameda Research / #FTX
Large transfers to custody platforms or exchanges such as Coinbase Prime are often interpreted as preliminary steps toward delegated custody or selling on secondary markets / OTC, which tends to make traders cautious about potential selling pressure.
$BTC
$FTT
$ETH
U.S. moves $470 million seized from FTX and Bitfinex to Coinbase Prime
Addresses linked to the U.S. government transferred approximately $470 million in #bitcoin (#BTC ), Wrapped Bitcoin (WBTC), and #Tether (USDT) to deposit addresses at Coinbase Prime.
According to on-chain tracking data from Arkham Intelligence, these assets are part of the seizures linked to funds recovered from the hack of #Bitfinex and the bankruptcy of Alameda Research / #FTX
Large transfers to custody platforms or exchanges such as Coinbase Prime are often interpreted as preliminary steps toward delegated custody or selling on secondary markets / OTC, which tends to make traders cautious about potential selling pressure.
$BTC
$FTT
$ETH
