Does someone know something the public doesn't?
Crypto-Twitter has been abuzz with speculation about a large amount of USDT flowing into the Huobi crypto exchange.
The Singapore-based entity recently issued a statement claiming all is well.
"Huobi reiterates: 'We are currently operating normally, user assets are safe, and trading, deposits and withdrawals are operating as expected.'".
Twitter profile Whale Alert notified the public today that at least 400 million USDT had been sent to Huobi, as reported in multiple tweets.
Much of this USDT came from crypto exchange Bitfinex, though some originated from other unidentified locations.
Earlier in the day, a number of transactions totaling roughly 100 million USDT travelled from Huobi to Bitfinex.
Some Twitter users expressed concerns about rumors that Chinese officials had detained one of the exchange's top brass, according to a post from Boxmining.
The exchange denied this speculation as false, however.
Huobi recently unveiled additional Ethereum-wrapped assets, although the news appears unrelated.
Huobi says all is fine amid massive USDT exchange deposits and BTC withdrawals
Published on Nov 2, 2020
by Cointele | Published on Coinage
Coinage
Mentioned in this article
Recent News
View All
Blockchain Bites: Bitcoin's Run, Uniswap's Hemorrhaging Value, Anchorage's Banking Bid
Bitcoin is nearing all-time highs in price and market cap last set three years ago.
Japan's megabanks to lead experiment with digital yen
We have, in order, Cheese Bank with a $3.3 million theft, Akropolis with its $2 million loss, Value DeFi with a whopping $6 million exploit and finally Origin Protocol's loss of $7 million.
Number of new Bitcoin addresses spikes amid growing FOMO
Japan's three largest banks, as part of a group of 30 private sector actors, are set to collaborate on an experiment with a digital yen.
Not just Wall Street: Quant trader explains why Bitcoin price is going up
Sam Trabucco, a quantitative trader at Alameda Research, believes four general factors are pushing up the price of Bitcoin.