LayerZero Labs Withdraws $21.3 Million in ZRO from Binance

IconCryptoNewsTerminal Staff17 Jul, 2024

cryptonews.jpg

LayerZero Labs Withdraws $21.3 Million in ZRO from Binance

LayerZero Labs, a blockchain interoperability startup, has withdrawn 5 million ZRO tokens worth approximately $21.3 million from the Binance cryptocurrency exchange. The transaction was detected by blockchain analytics firm ScopeScan and reported on Twitter. The reasons behind the withdrawal are unclear, but it could be related to LayerZero Labs' ongoing development or partnership activities. The company has made several strategic partnerships in recent months, including a collaboration with the popular non-custodial wallet MetaMask. The withdrawal of such a large amount of ZRO tokens from Binance suggests that LayerZero Labs may be planning to use the funds for significant projects or initiatives. The company has not yet publicly commented on the transaction.

Related News