Linear is worth $0.0225 at time of writing, down 6.7% during the last 24 hours. Founded in 2012, Coinbase recently served more than 108 million customers and ended March with 130 billion of customer crypto assets and funds on its balance sheet. In about 48 hours, 910 million LINA worth $15.6 million has been transferred.” Source: Santiment/Twitter During this surge, a whale exchange address has dumped a significant portion of its holdings. “Altcoins continue to show encouraging signs, as Linear has pumped +62% the past three days. Santiment also weighs in on the altcoin market, calling the recent surge of synthetic asset platform Linear Finance ( LINA) one indicator of a possible near-term alt upswing. Regardless, they have accumulated a combined 93,000 BTC as prices fell from the local top in mid-April.” Source: Santiment/Twitterīitcoin is worth $27,102 at time of writing, down 2.5% during the past 24 hours. “Addresses holding between 10 to 10,000 Bitcoin appear to be staying cautious as the price has fluctuated between $26,000 to $30,000 over the past month. Next, Santiment notes that Bitcoin ( BTC) sharks and whales have accumulated a combined 93,000 BTC since the market dipped from its local top of about $30,000 in mid-April. XRP is trading for $0.51 at time of writing, down 0.7% during the last 24 hours. A mild +4% decoupling has emerged between XRP and the altcoin pack, and if history repeats itself from the March 18th activity spike, it could be more.” Source: Santiment/Twitter “XRP Network has now had its second and third largest address activity spikes of all time these past two days. John Ray III, the bankruptcy expert who succeeded Bankman-Fried as the head of FTX as part of its winding-up process, told a congressional hearing on Tuesday that he had “never seen such an utter lack of record keeping” as he did at the exchange, which had “absolutely no internal controls whatsoever”.According to Santiment, XRP saw its largest address activity spike in its history on March 18th and the token went on a 45% price surge within the following 10 days. The various charges include multiple counts of wire fraud and securities fraud, campaign finance violations, and money-laundering offences.īankman-Fried was denied bail in the Bahamas, where he is being held pending extradition to the US. The jitters over Binance came as Sam Bankman-Fried, the founder and chief executive of FTX, once Binance’s chief rival, was charged by the SEC, CFTC, and Department of Justice for his role in the catastrophic failure of his crypto exchange. In a tweet, Zhao said the company would be doing an independent audit on liabilities, but that “liabilities are harder”, adding: “We don’t owe any loans to anyone. We use Google reCaptcha to protect our website and the Google Privacy Policy and Terms of Service apply. ![]() For more information see our Privacy Policy. Privacy Notice: Newsletters may contain info about charities, online ads, and content funded by outside parties. Withdrawals of USDC, a “stablecoin” that is widely seen as one of the safest assets in the sector, since it is issued by a US-based company that complies with financial regulators and pegged to the US dollar, were paused for more than eight hours over the course of Tuesday. ![]() ![]() ![]() We passed this extreme stress test because we run a very simple business model – hold assets in custody and generate revenue from transaction fees.”īut the outflow came after Binance was forced to halt withdrawals in one particular cryptocurrency because, Zhao said, the company could not fulfil them until its American banking partners opened for business. In a statement from Binance, the company said: “We think that it’s important to note that yesterday’s market sell-off resulted in approximately $1.14bn being withdrawn from our platform in a 12-hour period, which was managed with ease. Zhao insisted that Tuesday was not even in the top five days for net withdrawals. “I actually think it is a good idea to ‘stress test withdrawals’ on each CEX on a rotating basis,” he added, with a biceps curl emoji. Some days we have net withdrawals some days we have net deposits. said the cryptocurrency platform allowed users to trade unregistered securities, a day after it accused the crypto platform Binance of mishandling funds. “We saw some withdrawals today,” Zhao tweeted on Tuesday.
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