Bitfinex’s cold wallets are shrinking, with reports that 57,000 BTC ($ 441 million) has been withdrawn in the past 70 days.

Bitfinex BTC Cold Wallet Balance keeps falling. The chain’s indicators indicate a significant decline in BTC’s holdings.

Bitfinex BTC balances see drop

Some in the cryptocurrency market have found that the amount of BTC in Bitfinex’s cold wallet appears to be decreasing. This comes at a time when rope

As a user showsBitfinex had an outflow of 57,000 BTC in just 70 days. That’s about $ 441 million at current prices.

In December 2019, BeInCrypto reported that Bitfinex had about 146,000 BTC in its cold wallet at the time. That number has grown steadily since then, but is now falling dramatically.

Bitfinex tries to correct the registration

A current tweet from Zack Voell (@Zackvoell) caused a sensation. It has been shown that Bitfinex has withdrawn more than 176,000 BTC in the past 30 days. It was an impressive number that caught the attention of many people.

Bitfinex’s CTO, Paolo ArdoinoHe hurried to comment that it was apparently wrong because “he is not considering changing direction”. He added: “Finex is definitely in the middle of some big OTC deals, but the number still seems to me to be wrong.”

The culprit was apparently that ViewBase, which was responsible for compiling these numbers, incorrectly counted the bech32 addresses. A correction has since been made, but the numbers remain high.

ViewBase finds that now 52,542 BTC ($ 407 million) was recently withdrawn from Bitfinex 30 days. For comparison: Kraken with 4,892 BTC (USD 38 million) was the exchange with the second highest number of withdrawals during this period.

Bitfinex tether

Tether Treasury exceeds $ 7.5 billion spent

The decline in BTC at Bitfinex Cold Wallets contrasts with the record-breaking USDT emission rate. There will be an “increase” in demand for Altcoins with USD support, but only the Tether Treasury appears to be issuing much more.

BeInCrypto recently reported that Tether spent another $ 15 million on the network TRON

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As a leading blockchain and fintech news company, BeInCrypto always strives to comply with strict editorial guidelines and the highest journalistic standards. With this in mind, we always encourage and encourage readers to do their own research into the information contained in this article. This article is intended as news and is for informational purposes only. The topic of the article and the information provided may have an impact on the value of a digital or cryptocurrency asset, but is never intended. Likewise, the content of the article and the information contained therein do not intend to present sufficient information to make a financial or investment decision. This article is not expressly intended as financial advice, it is not financial advice and should not be construed as financial advice. The content and information in this article have not been prepared by a certified financial professional. All readers should always conduct their own due diligence with a certified financial professional before making an investment decision. The author of this article may have any amount of Bitcoin, cryptocurrencies, other digital currencies, or financial instruments at the time of writing, including but not limited to those listed in the content of this article.


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