Leading market maker Cumberland has withdrawn large amounts of cryptocurrencies from exchanges to its private wallets following lawsuits against Binance and Coinbase.
U.S. Securities and Exchange Commission’s (SEC) Taking action after filing lawsuits against Binance and Coinbase cumberland, In a short time, he withdrew his assets from both exchanges. With the news of the lawsuit becoming official, the issuer of the stablecoin from the Circle approximately 90 million USD Coins (USDC) The market maker, who attracted attention, transferred these assets to Coinbase and Binance.
About Coinbase 85 million USDC Posted by Cumberland, to Binance 3.5 million USDC just sent it. Provided by the on-chain analytics platform Lookonchain data According to the company, which took action again shortly after these sending transactions, millions of dollars of crypto money. pulled into their private wallets.
Market maker Cumberland approx. 37 million dollars worth 20 thousand ETH from Coinbase and 9 million dollars worth 4 thousand 850 ETH and transferred them to their private wallets by pulling them from Binance.
Some market analysts say that Cumberland has withdrawn a large amount of assets from the leading cryptocurrency exchanges in a short time. chaos created by regulatory uncertainty connected to the environment. Analysts also said that these large amounts of cryptocurrency withdrawals were almost a complete loss. evasion by fire described as.
Not content with just withdrawing Ethereum assets, the market maker company, even in lower amounts Axie Infinity (AXS), Shiba Inu (SHIB), Compound (COMP), Chainlink (LINK), Curve Finance (CRV), AAVE (AAVE) And Render (RNDR) transferred their assets to their private wallets.
On the other hand, market analysts, who brought a different perspective to the event, suggested that the company may be buying the declines experienced, while pointing to the whale activity experienced in the past days.