According to the prominent cryptocurrency tracker Whale Alert, an astounding 300 million XRP were removed from Binance around two hours ago.
Some individuals in the comment thread feel that this block is being shifted away from the exchange by investors attempting to save their cryptocurrency. the genuine intent of this financial transfer turned out to be different.
Whale Alert publicized the transfer of 300,000,000 XRP from a Binance wallet. This quantity of the Ripple-affiliated token is equivalent to $115,976,350 in US dollars.
This is not the first XRP withdrawal from Binance today; many hours earlier, 37,371,039 XRP were moved from that exchange to an “unknown” wallet, as shown by the aforementioned tracker.
This is just the second cryptocurrency transfer from Binance in the previous twenty-four hours. In the previous ten hours, about 1.2 billion BUSD had been transferred from this exchange, as detected by Whale Alert.
The amount of cryptocurrency removed from Binance has just reached $2 billion. This enormous departure began when the US attorney’s office indicated it is contemplating filing charges against the biggest exchange by trading volume, Binance, on suspicion of money laundering and sanctions violations.
CZ of Binance reacted on the matter, claiming that this is nothing more than the FUD (fear, uncertainty, and doubt) that has followed Binance in great numbers since its ICO in 2017.
Bithomp’s data indicated that the 300 million XRP were transferred from one Binance wallet to another, together with the 37,3 million XRP.
Former Tron CEO and current owner of Poloniex and Huobi exchanges, Justin Sun, announced earlier today that he had contributed $100 million USDC to Binance. He did not remark on this transaction’s intent.
CZ speculated that it was for the implementation of BUSD on the Tron blockchain. However, he was uncertain since he said he was not directly involved.
Whale Alert revealed more financial transactions using Sun’s wallet. It demonstrates that USDC Treasury returned 100 million USDC to the address of Justin Sun.
Also Read: SBF wanted to blame everyone except himself, according to leaked testimony before Congress
