Wintermute Alleged Address Deposits $4.77M in ARB to Binance, Kraken

IconCryptoNewsTerminal Staff08 Jul, 2024

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Wintermute Alleged Address Deposits $4.77M in ARB to Binance, Kraken

Alleged Wintermute Address Transfers $4.77M in ARB to Binance, Kraken On-chain analyst The Data Nerd recently reported that an alleged address belonging to prominent crypto market maker Wintermute deposited approximately $4.77 million worth of Arbitrum (ARB) tokens to cryptocurrency exchanges Binance and Kraken. The transaction involved the transfer of 7,777,777 ARB, currently valued at $0.6764 per token. ARB, the native cryptocurrency of the Arbitrum Layer 2 scaling solution for Ethereum, has experienced a slight decline in value, dropping by 1.38% following the news of Wintermute's alleged deposit. This transaction highlights the ongoing presence and activity of major players within the cryptocurrency market, as well as the potential impact of their actions on the prices of various digital assets. While the reasons behind Wintermute's alleged deposit remain unknown, it is worth noting that the company has been involved in significant crypto-related transactions in the past. In 2022, Wintermute was reportedly impacted by the collapse of the Terra ecosystem, leading to substantial losses. However, the company has since recovered and continues to operate in the cryptocurrency market.

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