Mind-blowing amount of SHIB has been moved from FTX amid its “war” against Binance
In the past 24 hours, the Shiba Inu whale has moved several bales of this meme coin, totaling about 1.5 trillion SHIB. Much of it was transferred from the FTX exchange.
In the meantime, the price of the asset is demonstrating a fall by roughly 8% in the past 24 hours.
1 trillion SHIB gone from FTX before withdrawals were limited
Data shared by Etherscan shows that three Shiba Inu transactions were carried out by anonymous wallets. These transfers amounted to a whopping 502,385,000,000; 183,243,945,997 and 108,280,591,660 meme coins – a total of 794 billion.
This equates to $8,741,940 in Fiat. A total of 502.3 billion SHIB were transferred from a wallet on the FTX exchange to the 0x12da64f9c7b4e9a73f9e177cd18c40cf307306f4 address. This wallet now contains a whopping 1,002,404,900,000 Shiba Inu.
The wallet details show that all these mem coins are pulled from FTX in two bales of 500 billion such that the owner fears something might happen to the FTX exchange and the assets stored on behalf of its clients.
Just recently, FTX limited withdrawals to $1,000, which might hint that the exchange has become insolvent.
A total of 183,243,945,997 SHIB were transferred from Coinbase to an anonymous wallet. According to data from Etherscan, an amount of 108,280,591,660 Shiba Inu was transferred from one wallet to another.
Binance selling FTT Holdings, FTX strikes back
As reported by U.Today, the conflict between the two largest crypto platforms of the space – FTX and Binance – has been escalating.
CZ announced that Binance is selling all of its FTT holdings due to “recent disclosures” and because CZ “does not want to support those who lobby against other industry players.”
This caused an aggressive reaction from FTX founder billionaire Sam Bankman-Fried and the co-founder of the exchange Ryan Salame. A massive sell-off of FTT by Binance started after concerns that Alameda Research, a big trading firm owned by FTX, was facing financial troubles.
However, the firm’s chief executive, Carolyn Ellison, said the company has substantial funds on its balance sheet and has even offered to buy the FTT that Binance is selling.
At the time of writing, FTX token shows a massive drop of 21.56%, trading at $17.81, per CoinMarketCap. Bitcoin has plunged back below $20,000 as the fight between the two largest exchanges in the crypto space is affecting the whole industry.
