Mind-blowing size of XRP transaction detected as funds moved from Binance that is on verge of being subpoenaed
About two hours ago, an astonishing 300 million XRP was withdrawn from Binance, as reported by popular crypto tracker Whale Alert. Some users in the comment thread believe that this lump is being removed from the exchange by investors who are trying to save their crypto.
But the true purpose of this fund transfer turned out to be different, as you can see below.
300 million XRP said goodbye to Binance
Whale Alert Publicizes About 300,000,000 XRP From Binance Wallet. This amount of Ripple-affiliated tokens is worth $115,976,350 in fiat currency.
This is not the first XRP withdrawal from Binance today – several hours before that, 37,371,039 XRP were also sent from that exchange to a wallet that the aforementioned tracker marked as “unknown.”
These are the only two transfers from Binance to crypto in the last 24 hours. Whale Alert moved approximately $1.2 billion to and from this exchange in the past 10 hours.
Overall, as covered by U.Today earlier, the amount of crypto withdrawn from Binance has approached $2 billion. This mass exodus started as the US prosecutor’s office announced that it is considering pressing charges against the largest exchange by trading volume, suspecting Binance of money laundering and violating sanctions.
what really happened here
Commenting on the situation, Binance’s CZ said that it is simply FUD (Fear, Uncertainty, Doubt) that has been following Binance to a large extent since its ICO in 2017.
In the end, data provided by XRP explorer Bithomp showed that the 300 million XRP were moved from one Binance wallet to another, as were the 37.3 million XRP.
Sun Yuchen moves millions of USDC to Binance
Earlier today, Justin Sun, former CEO of Tron and current owner of Poloniex and Huobi Exchange, shared that he loaned 100 million USDC to Binance. He did not comment on the purpose of the transaction.
CZ commented that he believed it was for the deployment of BUSD on the Tron chain. However, he was not sure as he said he was not handling it personally.
Whale Alert showed some more fund movements involving Sun’s wallet. It shows that 100 million USDC was returned from the USDC Treasury to Justin Sun’s address.
