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2,869,483,918,550 SHIB Stun Coinbase Institutional, Chinese Firm Files $300 Million XRP Plan With SEC, Binance Issues Delisting Warning for These Four Cryptos: Crypto News Digest by

2,869,483,918,550 SHIB stuns major U.S. exchange Coinbase Institutional

Yesterday, June 5, Whale Alert blockchain sleuth reported a 2.86 trillion SHIB transaction worth $36.6 million. The funds were transferred to Coinbase Institutional from a wallet not previously linked to any major exchange. Notably, the wallet in question had been holding a large SHIB portfolio before offloading most of it. Currently, the address still holds more than 30 billion SHIB, but it is now mostly emptied of its largest asset. The receiving address is tied to Coinbase Prime, the institutional wing of the U.S.-based crypto exchange. Some market watchers suggested that the sending wallet may be connected to Wintermute, a well-known trading firm in the industry, but this has not been officially confirmed. Neither Coinbase nor any party tied to the transaction have issued any public statements on the matter. The transfer stands out due to its destination, as such massive moves to Coinbase Institutional tend to signal preparation for action.