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 was Cumberland, one of the important market making companies.
Lookonchain has now written that Cumberland is making bottom purchases and withdrawing some altcoins from Coinbase and Binance.
These altcoins include Ethereum (ETH), Axie Infinity (AXS), Shiba Inu (SHIB), Compound (COMP), Cahinlink (LINK), Curve DAO (CRV), Aave (AAVE) and Render Token (RNDR).
“Cumberland appears to have bottomed out after the SEC's lawsuit against Binance and Coinbase.
Because we noticed that Cumberland has withdrawn 20,000 Ethereum (worth $37 million) from Coinbase and 4,850 ETH (worth $9 million) from Binance.
Cumberland has also shot AXS, SHIB, COMP, LINK, CRV, AAVE and RNDR."
After Cumberland SEC's lawsuits from Binance and Coinbase, it withdrew 90 million USDC from Circle, investing 85 million USDC in Coinbase and 3.5 million USDC in Binance.
It seems that #Cumberland bought from the bottom after the #SEC sued #Binance and #Coinbase news reports.
We noticed Cumberland withdrew 20,000 $ETH($37M) from #Coinbase and 4,850 $ETH($9M) from #Binance.
He also withdrew $AXS, $SHIB, $COMP, $LINK, $CRV, $AAVE, and $RNDR. pic.twitter.com/cpYzQd5C7f
— Lookonchain (@lookonchain) June 7, 2023
*Not investment advice.
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