Anonymous Whale Moves $68M in XRP to Coinbase, Sparking Fears of Massive Sell-Off

29,532,534 XRP Transfer Raises Concerns Among Crypto Traders

According to U.Today, a massive transfer of 29,532,534 XRP, valued at $68,360,671, was made to Coinbase by an anonymous whale. This transaction has sparked fears of a potential sell-off, especially as XRP has already seen a 17.7% drop in value within 24 hours. The transfer aligns with historical trends of offloading, raising concerns among traders. Despite this, XRP remains one of the most profitable altcoins, trading at $2.38 and having reached a seven-year high of $3.388 during a 90-day rally. Analysts are closely monitoring whale movements, as they could significantly impact market sentiment and liquidity.

Binance Conducts Over 120 Internal Investigations

Crypto.news reports that Binance has conducted more than 120 internal investigations over the past two years, recovering $30 million in illegal gains. Yi He, Binance's co-founder, revealed that over 60 employees were dismissed for policy violations. The exchange has also initiated lawsuits and prosecutions to address corruption. Binance has offered rewards ranging from $10,000 to $5 million for information on corrupt activities. This initiative follows controversies like the Ronin token's 30% drop after its Binance listing. The company remains committed to transparency and regulatory compliance.

XRP ETF Could Attract $20 Billion in Institutional Inflows

CryptoDaily highlights the potential approval of an XRP ETF, which could bring in up to $20 billion in institutional investments over time. Analysts predict that such an ETF would significantly boost Ripple's market valuation and liquidity. Meanwhile, DTX Exchange, a hybrid trading platform, has raised $15 million in its presale and aims to revolutionize trading by combining traditional finance with DeFi solutions. The platform's proprietary blockchain has achieved transaction speeds of over 200,000 TPS, far surpassing industry standards. Both XRP and DTX are seen as promising investments in the evolving crypto landscape.

Kraken Secures MiFID License to Expand in Europe

Coinpedia Fintech News reports that Kraken has obtained a MiFID license through the acquisition of a Cypriot Investment Firm, approved by the Cyprus Securities and Exchange Commission. This license allows Kraken to offer regulated derivatives products in the EU, catering to experienced traders. The move aligns with Kraken's strategy to expand its European footprint and comply with financial regulations. The company plans to roll out its derivatives offerings gradually, ensuring full regulatory compliance. This development follows Kraken's acquisition of Crypto Facilities, further solidifying its presence in regulated markets.

Bybit CEO Reveals $10 Billion in Crypto Liquidations

TheStreet reports that Bybit CEO Ben Zhou estimates total crypto liquidations during a recent market sell-off to be between $8 billion and $10 billion, far exceeding the widely cited $2 billion figure. Zhou attributes the discrepancy to API limitations on exchanges, which restrict real-time reporting of liquidation data. Bybit alone recorded $2.1 billion in liquidations within 24 hours. The lack of transparency in liquidation reporting has been a long-standing issue, with other exchanges like Binance also limiting data. Analysts emphasize the need for greater transparency to uphold blockchain's core values.

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