U.S. Institutions Dumping Bitcoin Faster Than Binance Traders
Photo: ZyCrypto
In recent on-chain activity, US government wallets reportedly deposited $1 billion in cryptocurrency to Coinbase Prime. The recent deposits include over 12,000 BTC related to the infamous 2016 Bitfinex hack , as well as large amounts of USDT and other assorted tokens. This is one of the largest transfers in a long time from US government crypto accounts to a cryptocurrency exchange, and it has sparked speculation about the future of the major stash. Despite their massive size, these deposits are only a small percentage of the government’s total crypto assets.
Source: ZyCrypto
