After the SEC's lawsuit against Binance, there were decreases in Bitcoin and cryptocurrencies, especially in BNB, and there were big exits from the stock market.
In addition to these ups and downs, some big investors also took advantage of these declines.
Popular cryptocurrency platform Lookonchain said in a post today that important and large investors have invested USD Coin (USDC) and Tether (USDT) on exchanges and made some purchases.
Lookonchain stated that one of them is Cumberland, one of the key market maker companies.
Accordingly, it has withdrawn 67.9 million USDC from Cumberland Circle and deposited 67.1 million USDC to Coinbase.
Apart from Cumberand, FlaconX and FBG Capital also deposited USDC and USDT on the stock market.
FalconX bought 37 million USDC from Circle and invested 29.5 million USDC in Binance, while FBG Capital invested 44 million USDT in Binance.
“There is a lot of FUD on the market while Binance is affected by the SEC lawsuit.
However, we noticed that some institutions, whales, seem to be buying from the bottom.
Following the news of the SEC's lawsuit against Binance, it withdrew 67.9 million USDC from Cumberland Circle and deposited 67.1 million USDC in Coinbase.
FalconX bought 37 million USDC from Circle and invested 29.5 million USDC in Binance.
FBG Capital invested 44 million USDT in Binance.
A whale who is good at buying low and selling high also deposited 15.9 million USDT on Binance and drew 8,800 Ethereum. The average ETH purchase price is $1,808.
The whale with the address "0x3eC9" also pulled 703,871 USDC and 2,641,144 USDT from Aave. He then bought 1,848 ETH (worth $3.35 million) at an average price of $1,810."
2/ After the news of #SEC suing #Binance, Cumberland withdrew 67.9M $USDC from #Circle and deposited 67.1M $USDC to #Coinbase.https://t.co/DSxYHpIAQ7
FalconX received 37M $USDC from #Circle and deposited 29.5M $USDC to #Binance.https://t.co/z1i9GAbzi5 pic.twitter.com/uqOapBLc4m
— Lookonchain (@lookonchain) June 6, 2023
*Not investment advice.
