Coinspeaker
Coinbase’s Triple Threat: Withdrawals, Outages, and Glitches
Coinbase has found itself at the center of multiple controversies lately. A massive $1 billion Bitcoin withdrawal, a significant outage affecting users, and a glitch erasing $100 billion in Bitcoin wealth.
The Billion-Dollar Exodus
Photo: Santiment
Recently, Coinbase experienced a massive outflow of Bitcoin, with approximately 16,000 BTC, valued at roughly $1 billion, being withdrawn in a single transaction. This event marked one of the most significant withdrawals the platform has ever witnessed. Confirmations from various analytics platforms, including Santiment, Arkham Intelligence, and Coinglass, validated the massive drop in Coinbase’s Bitcoin holdings.
This withdrawal occurred amidst a Bitcoin bull run, with the cryptocurrency’s value soaring well above $60,000, indicating a possible shift in investor sentiment or a strategic move by a significant player in the market.
Outage amidst a S
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