Is BlackRock preparing to dump $160m worth of these cryptocurrencies?
After outflows of approximately $10 billion worth of cryptocurrencies by early February, the asset management giant BlackRock (NYSE: BLK) appears to once again be preparing a substantial digital assets sale. Specifically, in the early morning hours of February 24, the company started moving approximately 1,800 Bitcoins (BTC) – worth about $115 million – and more than 24,000 Ethereum (ETH) – worth some $44 million – to Coinbase Prime wallets, based on the latest data Finbold retrieved from Arkham Intel. Part of BlackRock’s BTC and ETH transfers to Coinbase Prime. Source: Arkham The move into the cryptocurrency exchange could signal an intent to dump the approximately $160 million worth of crypto in the coming hours and days
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