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1 Trillion SHIB Moved from FTX, Here’s What Happened

1 Trillion SHIB Moved from FTX, Here’s What Happened

During the past 24 hours, Shiba Inu whales have transferred multiple bundles of this meme currency, reaching nearly 1.5 billion SHIB. Most moved from the FTX exchange. Meanwhile, the asset’s price has dropped about 8% in the last 24 hours. One billion SHIB moved from FTX before capping withdrawals. Data shared by Etherscan shows that three Shiba Inu transactions were made from anonymous wallets.

These transfers included a whopping 502,385,000,000, 183,243,945,997, and 108,280,591,660 meme coins: 794 billion total, This equates to $8,741,940 at Fiat. A total of 502.3 billion SHIB was transferred from a wallet on the FTX exchange to address 0x12da64f9c7b4e9a73f9e177cd18c40cf307306f4

This wallet now contains a whopping 1,002,404,900,000 Shiba Inu. The wallet details show that these FTX meme coins were mined in two parts of 500 billion each as if the owner feared something might happen to the FTX exchange and assets. That you store on behalf of your customers. FTX recently capped withdrawals at $1,000, which could indicate the exchange has gone bankrupt. A total of 183,243,945,997 SHIB were moved from Coinbase to an anonymous wallet. The amount of 108,280,591,660 Shiba Inu was transferred from one wallet to another, according to data from Etherscan.

Binance Sells FTT Holdings, FTX Strikes Back As reported by U.Today, the conflict between the two largest crypto platforms in space, FTX and Binance, has escalated. CZ announced that Binance is selling all its FTT holdings due to “recent revelations” and because CZ doesn’t want to support “people who are lobbying against other industry players.” This prompted an aggressive response from FTX founder, billionaire Sam Bankman-Fried, and exchange co-founder Ryan Salame. Binance’s FTT sell-off began after concerns from Alameda Research, a major trading firm owned by FTX. financial problems.

However, the company’s CEO, Caroline Ellison, claimed that it had enough funds on its balance sheet and even offered to buy the FTT, which Binance is selling. At the time of writing, the FTX token has seen a massive 21.56% drop and is trading at $17.81, according to CoinMarketCap. Bitcoin has fallen back below $20,000 in the battle between the two most prominent. Exchanges in the crypto space are impacting the entire industry.

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