Institutional moves | Moving to an exchange doesn’t mean it has been sold
CoinDesk reported today at 12:11 Beijing time that Arkham tracked a wallet believed to be associated with Trump Media transferring approximately $342 million in BTC to Crypto.com. The address attribution has not been independently confirmed.
This is worth tracking, but a transfer is not a trade, and it certainly does not prove the company has reduced its holdings. Custody changes and internal transfers also need to be ruled out; without evidence of a transaction or disclosure, potential supply should not be described as realized selling pressure.
Source: CoinDesk RSS.
CoinDesk reported today at 12:11 Beijing time that Arkham tracked a wallet believed to be associated with Trump Media transferring approximately $342 million in BTC to Crypto.com. The address attribution has not been independently confirmed.
This is worth tracking, but a transfer is not a trade, and it certainly does not prove the company has reduced its holdings. Custody changes and internal transfers also need to be ruled out; without evidence of a transaction or disclosure, potential supply should not be described as realized selling pressure.
Source: CoinDesk RSS.