After the lawsuit SEC to the Binance crypto exchange, the market sank noticeably, which was used by large whales, institutional and venture companies, Lookonchain analysts are sure.
— lookonchain (@lookonchain) June 6, 2023
Almost immediately after the claims were made public, the over-the-counter cryptocurrency platform Cumberland withdrew $69.7 million USDC stablecoin co-issuer Circle. The firm then contributed funds to the Coinbase exchange.
Institutional digital asset trading platform FalconX also received from Circle $37 millionand then transferred $29.5 million to Binance.
Venture organization FBG Capital deposited $44 million on Binance immediately after the announcement of litigation with the SEC.
A major trader under the pseudonym SmartMoney also sent to Binance $15.9 million deposit. He later withdrew 8800 ETH, which he bought at an average rate of $1808.
At the same time, a large whale withdrew 703,871 USDC and 2.64 million USDT from the Aave DeFi protocol, while buying 1848 ETH at $1810 in parallel.
In support of the NFT kit machibigbrother.eth translated on Binance, all of their tokens from the Borde Ape Yacht Club collection worth 2,900 ETH (~$5.2 million).
Recall that on June 5, 2023, the SEC sued the bitcoin exchange and its CEO, Changpeng Zhao. The regulator brought 13 charges, including the sale of unregistered securities. Against the background of the proceedings, the BNB token collapsed by almost 7%, pulling other assets with it.
Reports later emerged that the Commission’s claims were similar to those brought by the agency against the failed crypto exchange FTX and its subsidiary Alameda Research.
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