Wyntermute-linked address withdraws 4 million ARBs on Coinbase

IconCryptoNewsTerminal Staff20 Jul, 2024

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Wyntermute-linked address withdraws 4 million ARBs on Coinbase

The Data Nerd reported that a Wyntermute-linked address withdrew 4 million Arbitrum (ARBs) on Coinbase. This withdrawal comes after the crypto lender paused withdrawals and deposits on its platform. It's unclear what the purpose of the withdrawal is, but it could be a sign that Wyntermute is facing financial difficulties. The withdrawal of such a large amount of ARBs could also impact the price of the token. ARBs has been trading sideways for the past few weeks, but it could see a sell-off if Wyntermute continues to withdraw its funds. This news is still developing, and more information is expected to be released in the coming days.

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