‘Smart Whale’ Sells 636 Bitcoin (BTC) Worth $23,460,000 As Rumors of US Government Enforcement Actions Swirl - The Daily Hodl
The Daily Hodl
21 Nov 2023 7:05 PM
On-chain data shows that one entity sold off over $23.4 million worth of Bitcoin (BTC) today before reports that the US government was launching new enforcement actions against players in the industry....
- On-chain data reveals that an unidentified entity sold off $23.4 million worth of Bitcoin (BTC) before reports of new enforcement actions by the US government against players in the industry.
- Lookonchain, an on-chain analytics firm, spotted the Bitcoin address that sold its entire stack of 636 BTC.
- The US Securities and Exchange Commission (SEC) charged crypto exchange Kraken with operating an unregistered platform and mishandling customer funds.
- Reports circulated about a potential $4 billion settlement between the Justice Department and Binance.
- The whale who sold the BTC made significant profits, buying low and selling high.
- Lookonchain also observed institutional investors accumulating LDO, the native token for liquid staking platform Lido.
- Two wallets associated with institutional crypto service companies FalconX and Amber were seen withdrawing LDO tokens from Binance.
The sentiment of the article is mostly negative, as it highlights enforcement actions against players in the crypto industry and potential legal issues.
You May Ask
Who sold off a significant amount of Bitcoin before the US government's enforcement actions?What charges were brought against Kraken by the SEC?What potential settlement is being discussed involving the Justice Department and Binance?Which institutional investors were observed accumulating LDO tokens?What is the current trading price of Bitcoin?