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🟢 GENERAL-NEWSBitcoin worth $1.5B withdrawn from Coinbase in 48 hours (cryptoslate.com)

submitted by mesutdmnPlatinum | QC: CC 108

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[–]CointestMod[M] [score hidden] stickied commentlocked comment (8 children)

Pro & con info are in the collapsed comments below for the following topics: Bitcoin, USDC.

[–]MaeronTargaryenTin | CC critic | Politics 10 1724 points1725 points  (200 children)

At least now we know that Coinbase has more than enough BTC to cover it

[–]mesutdmnPlatinum | QC: CC 108[S] 509 points510 points  (133 children)

People testing it right now, how many?

[–]skunk_inkSilver | QC: CC 28, DOGE 17 | SC 613 | Futurology 17 90 points91 points  (33 children)

Over 2 million BTC.

[–]surrender_the_juicePlatinum | QC: CC 568, CCMeta 20 111 points112 points  (8 children)

That’s roughly 2 million more BTC than I will ever see.

[–]simmolPlatinum | QC: CC 1152, BTC 784 | TraderSubs 784 42 points43 points  (2 children)

Depending on how "roughly" it is, you might still be a millionaire.

[–]FleshlightBikeTin | SHIB 6 | Superstonk 12 35 points36 points  (1 child)

Found you Cathie Wood!

[–]surrender_the_juicePlatinum | QC: CC 568, CCMeta 20 3 points4 points  (0 children)

I wish.

[–]cZ0n2p0a6MCqsB9Tin | 3 months old 1 point2 points  (0 children)

The future is still going to involve third parties providing services with wealth even if it’s btc.

BTC can’t really do anything natively. It’s not a bank. It’s a mattress.

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    [–]beyondthebarricadeTin | CC critic 19 points20 points  (7 children)

    Source: a spreadsheet

    [–]GatherunPlatinum | QC: CC 381 8 points9 points  (5 children)

    Don't you trust the document!?

    [–]kellyklineTin | Buttcoin 30 19 points20 points  (4 children)

    WSJ: Coinbase is so financially prudent, they run on a spreadsheet, not fancy databases

    Also WSJ: SBF is so financially prudent, he drives a toyota, not fancy cars

    [–]jasoncyke 10 points11 points  (2 children)

    WSJ： Brian Armstrong is a bald fraud, he is the next coming of Lex Luthor.

    SBF was our savior, he was supposed to be our Superman！He was misled by evil men in crypto.

    [–]kellyklineTin | Buttcoin 30 2 points3 points  (1 child)

    WSJ: Not their fault, they were trying to save the world. SBF coming of Jesus, apostles Do Kwon, Zu Shu, Kyle Davies, Queen Caroline and Cuck Trabucco

    [–]headshot6 1 point2 points  (0 children)

    Fancy databases are glorified spreadsheets.

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      [–]il_duominoBronze | QC: CC 24 12 points13 points  (1 child)

      No on-chain proof yet though. Only a screenshot

      [–]kellyklineTin | Buttcoin 30 15 points16 points  (0 children)

      "We have the bitcoin. We promise!"

      - Coinbase

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        [–]AobachiTin | ADA 20 | r/Pers.Fin.Cnd. 20 25 points26 points  (26 children)

        I have 3$ of btc in coinbase, should I participate?

        [–]jrr6415sunTin 45 points46 points  (4 children)

        It may have devastating consequences if you were to withdraw

        [–]GatherunPlatinum | QC: CC 381 14 points15 points  (3 children)

        I have around 20$ worth of Eth that I don't move because of the fees

        [–]danhaukPlatinum | QC: CC 250 | Investing 10 7 points8 points  (1 child)

        Buy more, then withdraw!

        [–]hiredgoonSilver | QC: CC 76 | NANO 243 | Politics 80 3 points4 points  (0 children)

        Get 50 cents of matic and withdraw your eth to polygon for cheap.

        [–]Mr_Bob_FergusonPlatinum | QC: CC 269 7 points8 points  (4 children)

        That $3 from a Learn & Earn promo is going to be the straw that breaks the camels back!

        ...please, don't do it!

        [–]Nhiyla 7 points8 points  (2 children)

        Why is your name green, and why are you so degenerate?

        [–]Mr_Bob_FergusonPlatinum | QC: CC 269 12 points13 points  (1 child)

        Green comes from premium membership colors.

        Degeneracy comes from participating in this sub.

        [–]ferdsXoomTin | 1 month old 1 point2 points  (0 children)

        One of us!

        [–]AobachiTin | ADA 20 | r/Pers.Fin.Cnd. 20 1 point2 points  (0 children)

        Haha exactly

        [–]6M66Platinum | QC: CC 27, XRP 16 | r/Pers.Fin.Cnd. 46 3 points4 points  (2 children)

        Please do whatever you want to do just don't withdraw!

        [–]fuzzyjuicypeachTin | 6 months old 2 points3 points  (0 children)

        make it about three fiddy and we're talking

        [–]vartanarsenTin 2 points3 points  (2 children)

        That’s insane amount to not be in cold storage

        [–]AobachiTin | ADA 20 | r/Pers.Fin.Cnd. 20 1 point2 points  (1 child)

        I like to live dangerously

        [–]Low-Cattle-5142Tin 1 point2 points  (0 children)

        Of course! You need to be sure your $3 is safe.

        [–]awhitehouseTin 1 point2 points  (1 child)

        may have devastating consequences if you were to withdraw

        Just putting it out there, if Coinbase collapses, I think we can all blame u/Aobachi because of the withdrawal.

        [–]AobachiTin | ADA 20 | r/Pers.Fin.Cnd. 20 2 points3 points  (0 children)

        Don't worry I will hold the fort

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          [–]Yuuki__konno 1 point2 points  (0 children)

          Just me

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            [–]LisecjedekokosBronze 48 points49 points  (11 children)

            Coinbase showed some steel balls.

            [–]SeisouhenPlatinum | QC: CC 56, BTC 52 24 points25 points  (4 children)

            Well to be fair they didn't reveal anything new, I mean the information was already publicly available

            [–]Mr_Bob_FergusonPlatinum | QC: CC 269 17 points18 points  (1 child)

            I mean the information was already publicly available

            Please let us not drop facts in here and mention that Coinbase is a publicly traded company so automatically requires a much higher level of transparency by default than many other exchanges.

            We want to throw them under the bus and call for conspiracies!

            [–]ferdsXoomTin | 1 month old 1 point2 points  (0 children)

            More fear and public name calling please

            [–]deathbyfish13NFT Degen 3 points4 points  (0 children)

            Was still cool to see the mic drop moment though

            [–]BaecchusPlatinum | QC: CC 541 | r/WSB 11 1 point2 points  (0 children)

            Even then I doubt most people were aware of how rock solid their business was. Shit, I sure wasn't.

            [–]Shankar_0Tin 39 points40 points  (0 children)

            It's actually a brilliant move as long as they're telling the truth (or at least enough of the truth)

            This serves as a stress test. If it survives the process, then our faith in their system is restored, some time passes and people will slowly filter that money back on-platform.

            This has to have a positive effect on their liquidity in the long-term.

            [–]mesutdmnPlatinum | QC: CC 108[S] 15 points16 points  (3 children)

            It goes well so far, congratulations to them.

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              [–]partymslPlatinum | QC: CC 646 | r/WSB 16 10 points11 points  (0 children)

              Really, on most other exchanges they would have got troubles with this amount. Coinbase is right now looking like the safest exchange. (obviously with Kraken)

              [–]MythicMangoPlatinum | QC: XLM 502, CC 203, BTC 32 | FUN 6 5 points6 points  (24 children)

              cover it

              what does this mean? why wouldn't they cover withdrawals?

              [–]bomphcheese 36 points37 points  (22 children)

              They aren’t really a bank and they aren’t regulated as one. They might have pissed it all away on hookers and blow. The article implies they might actually be handling all that money responsibly. … Might.

              Edit. Point is, you should keep your keys and not trust anyone else with them, especially not a profit motivated company.

              [–]BongressmanPlatinum | QC: CC 83 | Politics 99 44 points45 points  (18 children)

              But Coinbase is a publicly traded, regulated, audited company. Their reserves and liabilities are public.

              [–]indy3171Tin | 5 months old 23 points24 points  (11 children)

              so was Voyager, Enron, Tesla

              [–]frenchiefanatiquePlatinum | QC: CC 56 | PRL 6 | Economics 31 23 points24 points  (8 children)

              How does this involve Tesla?

              [–]electrotech71 15 points16 points  (1 child)

              I think he meant Bear Starns, Lehman brothers, etc

              [–]Mr_Bob_FergusonPlatinum | QC: CC 269 8 points9 points  (3 children)

              Elon stole hair from Jeff Bezos in the 2000s.

              [–]nxqvPlatinum | QC: CC 23 1 point2 points  (0 children)

              I didn't know that's what they meant when they said he went to the Amazon to get a hair transplant

              [–]frenchiefanatiquePlatinum | QC: CC 56 | PRL 6 | Economics 31 1 point2 points  (1 child)

              lmao ahhhh thats what I was looking for

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                [–]Mr_Bob_FergusonPlatinum | QC: CC 269 2 points3 points  (0 children)

                so was Voyager, Enron, Tesla

                Let's compare it against the most recent failing, FTX.

                You can bet for fucking sure that Coinbase aren't using emojis as their method for approving expenses.

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                        [–]Def_Notta-throwawayBronze | 5 months old | QC: CC 21 3 points4 points  (0 children)

                        Yeah, for some reason I think they will be okay.

                        [–]CantaloupeCamperTin | Apple 123 1 point2 points  (0 children)

                        more than enough

                        Or just slightly enough ;)

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                          [–]SL-Gremory-Platinum | QC: CC 185, BAT 19 | ADA 20 247 points248 points  (19 children)

                          Honest question - might that just be them moving to their cold storage solution?

                          [–]KeiepseTin 115 points116 points  (2 children)

                          That's the usual answer to these "$Xb of BTC moved off exchange" posts.

                          [–]MaximumSandwich5Platinum | QC: CC 234, LTC 100 | TraderSubs 100 9 points10 points  (1 child)

                          They should be assumed as such until proven otherwise.

                          [–]Every_Hunt_160Platinum | QC: CC 517 | r/SSB 10 28 points29 points  (10 children)

                          We like to imagine it’s some mystery whale but most of the time it’s just the exchange moving their holdings to a cold wallet

                          [–]Mr_Bob_FergusonPlatinum | QC: CC 269 6 points7 points  (2 children)

                          We aren't even playing the game this time that it is a mystery whale.

                          This is net daily outflow for the exchange as a whole (all customers).

                          Not a single wallet/whale.

                          [–]ferdsXoomTin | 1 month old 1 point2 points  (0 children)

                          But all the other posters in here said we are!

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                              [–]Jay_Bird_75Tin | SHIB 36 26 points27 points  (1 child)

                              Exactly.

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                                [–]nik5016Platinum | QC: CC 83 | Politics 77 278 points279 points  (12 children)

                                Further showing that legitimate exchange withdrawals are actually working because the reserves are actually there.

                                [–]mesutdmnPlatinum | QC: CC 108[S] 35 points36 points  (4 children)

                                Nice testing times.

                                [–]ferdsXoomTin | 1 month old 3 points4 points  (0 children)

                                It’s business as usual for coinbase

                                [–]Tatakae69Platinum | QC: CC 886 4 points5 points  (1 child)

                                yes Me and my 1000 sats love testing

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                                  [–]slayukTin 4 points5 points  (0 children)

                                  I can understand this one man, this is good for the tests and all if they are going to face some there, that's all we can say because that is real for real, we know that.

                                  [–]KennyCalzoneTin | 3 months old 16 points17 points  (2 children)

                                  I was in a discord yesterday where someone was talking about move 60 BTC off CB without an issue. It’s a solid exchange

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                                    [–]TruthSeeekeerPlatinum | QC: CC 1012 346 points347 points  (84 children)

                                    They have more than 2 Million BTC in their reserves, they’ll be fine.

                                    [–]mesutdmnPlatinum | QC: CC 108[S] 199 points200 points  (56 children)

                                    Whales: Let's test it.

                                    [–]partymslPlatinum | QC: CC 646 | r/WSB 16 74 points75 points  (9 children)

                                    Would not be suprised if they tested their own liquidity with that just to fuck even more with CZ.

                                    [–]TruthSeeekeerPlatinum | QC: CC 1012 73 points74 points  (6 children)

                                    CZ must be regretting that tweet challenging Coinbase which he deleted promptly

                                    [–]surrender_the_juicePlatinum | QC: CC 568, CCMeta 20 41 points42 points  (2 children)

                                    Definitely regrets it now. Or maybe he doesn’t. Sociopaths can’t feel regret.

                                    [–]BatPlackTin | Apple 15 1 point2 points  (0 children)

                                    Anyone have a screenshot? I guess we can’t quite prove the screenshot wasn’t doctored, though.

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                                      [–]loaded-diper33Platinum | QC: CC 63 1 point2 points  (1 child)

                                      What a flex if that's true lol

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                                        [–]Ferdo306Silver | QC: CC 597, BTC 70, ARK 25 | NANO 61 16 points17 points  (13 children)

                                        Sure but nice to see ouflows from coinbase

                                        They hold like 10% of total supply which creates certain risks

                                        Edit: the risk I was referring is coinbase getting hacked (although I suppose they use many cold wallets and multisig). 10% of the supply hitting the market wouldn't be a fun ride

                                        [–]Odysseus_LannisterPlatinum | QC: CC 1476 70 points71 points  (12 children)

                                        First it’s that exchanges don’t have enough. Now it’s they hold too much lol

                                        [–]Cravensworth_reduxPlatinum | QC: CC 117, DOGE 22 | BANANO 11 29 points30 points  (3 children)

                                        No pleasing some people ha ha

                                        [–]57duckTin 3 points4 points  (2 children)

                                        “Would you like a schmoke and a pankick?”

                                        “A WHAT??”

                                        [–]JV_RigsTin 2 points3 points  (2 children)

                                        I believe what he is referring too is people using exchanges like banks.

                                        To many people have left their BTC on a single exchange. If it where to be compromised…. I think is the point. Yes they should have enough BTC to cover all withdrawals but people shouldn’t use exchanges for long term storage.

                                        [–]Odysseus_LannisterPlatinum | QC: CC 1476 4 points5 points  (1 child)

                                        I agree that CEXes aren’t banks but they offer some opportunities like staking/lending that may be unavailable to people that hold low amounts of coins. I know several people who can only stake their ETH with an exchange, etc.

                                        [–]tallboybrewsPlatinum | QC: CC 136, BTC 131, ETH 81 | MiningSubs 166 2 points3 points  (4 children)

                                        Its not about them not having enough. Its about them not having enough RELATIVE TO DEPOSITS. If Coinbase had 0 BTC but no one had any BTC deposited, there would be no problem.

                                        [–]Odysseus_LannisterPlatinum | QC: CC 1476 2 points3 points  (3 children)

                                        Coinbase DOES have enough BTC to back up their customer’s holdings as evidenced by their audit report

                                        [–]TheGiftOf_JerichoPlatinum | QC: CC 828 | ADA 5 3 points4 points  (1 child)

                                        Yeah that's nuts, think they will be okay lol

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                                          [–]coinfeeds-botApproved CC Bot 61 points62 points  (5 children)

                                          tldr; A total of 100,000 Bitcoin (BTC) were withdrawn from US-based exchange Coinbase in the past two days, marking the third-largest BTC withdrawal in the exchange’s history. The most significant withdrawal was recorded in late 2017, and the second-largest one took place in mid-2022 after the Terra (Terra) collapse.

                                          This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

                                          [–]mesutdmnPlatinum | QC: CC 108[S] 11 points12 points  (0 children)

                                          Good Bot

                                          [–]Mr_Bob_FergusonPlatinum | QC: CC 269 4 points5 points  (2 children)

                                          Slightly misleading bot.

                                          This is net outflow from the exchange, over all customers.

                                          Not a single wallet.

                                          [–]ferdsXoomTin | 1 month old 1 point2 points  (0 children)

                                          Thank you for clearing that up

                                          Lots of misleading comments in this thread

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                                              [–]WonzkyPlatinum | QC: CC 965 80 points81 points  (6 children)

                                              Someone's going Black Friday shopping

                                              [–]mesutdmnPlatinum | QC: CC 108[S] 17 points18 points  (3 children)

                                              They noticed BTC in the Black Friday discount to.

                                              [–]vintcentcasTin 2 points3 points  (0 children)

                                              They are good with it and they will do so good there lol.

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                                                  [–]etj103007Tin 111 points112 points  (27 children)

                                                  Considering they have a literal 33 billion in Bitcoin, I doubt it would cause much effect. A bank run wouldn't even faze them.

                                                  [–]-Mirrored-Bronze | 3 months old 70 points71 points  (17 children)

                                                  Coinbase tomorrow: “sorry everyone, we just filed for bankruptcy due to 1.5B Bitcoin being withdrawn”

                                                  [–]partymslPlatinum | QC: CC 646 | r/WSB 16 6 points7 points  (0 children)

                                                  Would be the most crypto-thing to happen.

                                                  [–]mesutdmnPlatinum | QC: CC 108[S] 48 points49 points  (11 children)

                                                  1 ) WHAT

                                                  2 ) H

                                                  [–]j4_jjjjBronze | GMEJungle 52 | Superstonk 931 3 points4 points  (0 children)

                                                  Followed by coinbase CEO running off with a few billy usd in customer Bitcoin on his ledger

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                                                      [–]anonynezTin 24 points25 points  (9 children)

                                                      I’d like to know how much in fees

                                                      [–]silver00spikeTin 6 points7 points  (5 children)

                                                      Coinbase Fees are for trading, not withdrawing. Transaction fee doesn’t go up based on amount either

                                                      [–]Designer-Freedom7638Tin | 6 months old | Buttcoin 73 6 points7 points  (3 children)

                                                      I withdrew the £7 I had in there and they charged me for the privilege.

                                                      I just googled in case I misremembered...

                                                      Why do I have to pay a network fee to withdraw? There is a 1% fee to convert and withdraw your crypto to cash in addition to standard network fees.

                                                      Yeah, this is good for coinbase. Assuming they can actually cover it. Trust the audit bro.

                                                      [–]ImpetusinSilver | QC: CC 354, BTC 73, ETH 41 | NANO 135 | r/WSB 253 1 point2 points  (1 child)

                                                      So they would have made 20 million dollars for this withdrawal? Not too shabby.

                                                      [–]AMPed101Silver | QC: CC 46, BTC 22 | Buttcoin 90 | Futurology 10 1 point2 points  (0 children)

                                                      The withdraw fee is a flat network fee so you pay the same regardless of how much you withdraw.

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                                                            [–]Cokkie_BingerTin 51 points52 points  (26 children)

                                                            People are becoming smart and are moving to Wallets instead of Cex

                                                            [–]partymslPlatinum | QC: CC 646 | r/WSB 16 9 points10 points  (3 children)

                                                            Thats quite a lot of money and probably was a whale if its not Coinbase themselves.

                                                            [–]horse962Tin 4 points5 points  (0 children)

                                                            Someone is taking shit off so much right now man, for real. it's just good that people are doing it though, we are having so much fun in this week man lol..

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                                                              [–]_ArtosisCurse_Bronze | QC: CC 20[🍰] 16 points17 points  (2 children)

                                                              Even Coinbase knows that this is why they have coinbase wallet

                                                              [–]razrivashkiTin 1 point2 points  (0 children)

                                                              Yeah man, they can see that shit most of the time right now.

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                                                                [–]FamousM1Platinum | QC: BCH 172, VTC 27, BTC 22 | r/SSB 6 1 point2 points  (1 child)

                                                                I think the next problem is going to be the centralized wallets with closed source software that people are using for multiple coins at once like Trust and Exodus

                                                                [–]tallboybrewsPlatinum | QC: CC 136, BTC 131, ETH 81 | MiningSubs 166 1 point2 points  (2 children)

                                                                Ive always preferred wallet to cex.

                                                                [–]kldloadTin | 5 months old 1 point2 points  (1 child)

                                                                Cex: not even once.

                                                                [–]learnfromhahnTin 1 point2 points  (0 children)

                                                                It's just good to know that people are being like this right now, we are good.

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                                                                  [–]CreepToeCurrentSeaUsername says it all 4 points5 points  (4 children)

                                                                  Now this will really test coinbase on whether they will hold withdrawals or not.

                                                                  [–]Suitable_Media5518Tin | 1 month old 5 points6 points  (3 children)

                                                                  My $3 worth of BTC withdrawn stands out!

                                                                  [–]New-Jicama-6298Tin 4 points5 points  (2 children)

                                                                  Calm down op

                                                                  [–]jooro_aTin 15 points16 points  (5 children)

                                                                  Yeah I'm buying shit for Christmas

                                                                  [–]mesutdmnPlatinum | QC: CC 108[S] 6 points7 points  (3 children)

                                                                  To share it with kids, isn't it Santa?

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                                                                    [–]NabinatorBronze | DayTrading 6 2 points3 points  (3 children)

                                                                    You guys are just salivating for a collapse, to the point where you look for anything that could constitute as one. Stop reaching for straws.

                                                                    [–]12kdaysinthefireTin 1 point2 points  (1 child)

                                                                    This. It’s crazy to witness the collective sentiment here sometimes.

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                                                                      [–]gagandeepsingh72Tin 2 points3 points  (0 children)

                                                                      Self custody is the best way!

                                                                      Why do we want to give liquidity to this companies who are operated without any oversight or transparency. Don't trust verify.

                                                                      [–]IconBreakerTin 3 points4 points  (0 children)

                                                                      Even with an oversight, they would still be centralized, thus contrary to the blockchain's DNA.

                                                                      Let's go on educating ourselves & others, to not need any State or corporation "custody" of our assets and money.

                                                                      [–]tostuiabanaleTin 4 points5 points  (0 children)

                                                                      Damn they are being so much with all these shits right now, that's all we can say right now man, this shit is just not a fucking small thing if you ask me right now.

                                                                      [–]Mantezas1Tin 3 points4 points  (0 children)

                                                                      Gemini and Genesis... looks not so good. Probably another dip coming.

                                                                      [–]jragardTin 3 points4 points  (0 children)

                                                                      That number seems to be the going equivalent # which leads to the question of how related are all these actions.

                                                                      Stay tuned there could be a buy in or out around the space.

                                                                      [–]wompypoohTin 3 points4 points  (0 children)

                                                                      If coinbase were to collapse, would that take USDC with it too?

                                                                      Or is circle a completely separate entity?

                                                                      [–]739318729Tin 2 points3 points  (0 children)

                                                                      You sell bitcoin, buy gold. And notice when you touch the gold in your storage, it feels cold.

                                                                      [–]flyxpTin 2 points3 points  (0 children)

                                                                      I think more people are being precautious given the recent events, and probably putting in cold storage.

                                                                      [–]dq36wuTin 3 points4 points  (0 children)

                                                                      I went OTC as a gesture of generosity to you all so the spot price doesn't pump too much.

                                                                      [–]takemidownTin 9 points10 points  (6 children)

                                                                      I was hoping btc would do a black Friday massive discount for us this weekend.

                                                                      [–]megarzeznikTin 2 points3 points  (0 children)

                                                                      Hope others will treat it like that, this is just like that right now.

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                                                                        [–]busmobbingTin 9 points10 points  (2 children)

                                                                        That's 5% of their Bitcoin reserve.

                                                                        [–]yushaocheTin 2 points3 points  (0 children)

                                                                        I guess we know what we are doing and that seems fine.

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                                                                          [–]ECore 8 points9 points  (4 children)

                                                                          That's a lot of BTC out of circulation.

                                                                          [–]ggerokosTin 4 points5 points  (0 children)

                                                                          True that man, people are just having way too much there.

                                                                          [–]Probably_notabotTin | CC critic 1 point2 points  (2 children)

                                                                          Happy cake day core!

                                                                          [–]SocialinfluencingCriptrillionaire Life! Css: Moon. 12 points13 points  (7 children)

                                                                          Lmao some people here thinking that's retail, how many billionaires do you know in your circle?

                                                                          [–]mesutdmnPlatinum | QC: CC 108[S] 15 points16 points  (1 child)

                                                                          My circle too tight, I am barely in it.

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                                                                            [–]Miggle58Platinum | QC: CC 114 2 points3 points  (1 child)

                                                                            Sorry Coinbase. Thanks for getting me into the game, but I’m the captain now. Happily secured in cold storage now.

                                                                            [–]kenkkimTin 2 points3 points  (1 child)

                                                                            This means whales don't feel pressure to keep their holdings ready for a quick sell, it's bullish sentiment, price is going up soon

                                                                            [–]brewnogTin | 5 months old 2 points3 points  (0 children)

                                                                            Lets keep going! Idgaf what you hold. Pull it off of exchanges and away from firms!

                                                                            [–]JeroenBrantjesTin 2 points3 points  (0 children)

                                                                            Still waiting several days. moving btc is considered a withdrawal and 7 day hold after bank deposits :)…… more withdrawals to come

                                                                            [–]valeriy1332Tin 2 points3 points  (0 children)

                                                                            Grandparents moving into cold wallets after Thanksgiving convos

                                                                            [–]rezidentnailTin 2 points3 points  (0 children)

                                                                            Probably someone moving it around for proof of reserves.

                                                                            [–]kryptoNoob69420Platinum | QC: CC 588 5 points6 points  (4 children)

                                                                            That's good. People taking out their crypto and taking self custody.

                                                                            [–]sjejsbTin 5 points6 points  (11 children)

                                                                            that’s a lotta bitcoin

                                                                            [–]MostlyPseudonymousSilver|QC:CC917,ATOM96,XMR32|CelsiusNet.22|Stocks33 7 points8 points  (3 children)

                                                                            Tiny fraction of their holdings though. Withdrawal fees were probably pretty tasty.

                                                                            [–]bestStagnate528Tin 2 points3 points  (0 children)

                                                                            Yeah man they are doing so much right now and we all can sense that shit, this shit is just never going to be ended for them right now and we all know that lol..

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                                                                              [–]RepulsiveCan5270Severe volatility disorder 7 points8 points  (6 children)

                                                                              That's the only direction crypto should go, out of exchanges

                                                                              [–]MDVasyaTin 2 points3 points  (0 children)

                                                                              We are just good with cold wallets and nothing more than that.

                                                                              [–]mesutdmnPlatinum | QC: CC 108[S] 1 point2 points  (1 child)

                                                                              Agree, exchanges here for "exchange" not keep as banks.

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                                                                                [–]CantaloupeCamperTin | Apple 123 1 point2 points  (1 child)

                                                                                If this was my local credit union they'd be calling me "Bro what you doing?!?!?"

                                                                                [–]Aromatic-Front-5919Tin 1 point2 points  (1 child)

                                                                                Sorry guys had some bills to pay

                                                                                [–]Jay_Bird_75Tin | SHIB 36 1 point2 points  (1 child)

                                                                                Bullish.

                                                                                [–]Jcook_14Silver | QC: CC 34 | CRO 41 | ExchSubs 41 1 point2 points  (1 child)

                                                                                We bank running again? Count me in

                                                                                EDIT: me withdraws my .001 BTC from Coinbase

                                                                                [–]YvngDesmosTin 1 point2 points  (1 child)

                                                                                It looks like someone got scared.

                                                                                [–]NotAnAlcoholicTodayPlatinum | QC: CC 93, XTZ 32 1 point2 points  (2 children)

                                                                                Why tho?

                                                                                [–]avishap1Tin 1 point2 points  (1 child)

                                                                                I guess we are just never going to find that shit out lmao.

                                                                                [–]Kukurio59Tin | CC critic 1 point2 points  (3 children)

                                                                                Boring article

                                                                                [–]coiiiiiPlatinum | QC: CC 80 1 point2 points  (1 child)

                                                                                IT WAS BINANCE!

                                                                                [–]KingSoulzzTin | DOGE critic 1 point2 points  (1 child)

                                                                                A whale can’t do nothing in peace anymore

                                                                                [–]rickyhatesspamTin 1 point2 points  (1 child)

                                                                                Did someone buy a pizza?

                                                                                [–]Creative_Visit122Tin 1 point2 points  (1 child)

                                                                                They’re game getting better?! Usually they close up shop when high volume hits!

                                                                                [–]mirasoft182Tin 1 point2 points  (0 children)

                                                                                Yeah man, they are really doing so much shit right now there.

                                                                                [–]bcool35Tin 1 point2 points  (1 child)

                                                                                Would Usdc collapse if Coinbase collapse’s?

                                                                                [–]DracianTin 1 point2 points  (1 child)

                                                                                Okay Binance, your turn for bank run!

                                                                                [–]wakeupneverblindTin 1 point2 points  (1 child)

                                                                                Most likely after the report they moved off to a cold wallet for safe keeping ;)

                                                                                [–]ChaoticNeutralNephewBronze 1 point2 points  (1 child)

                                                                                I helped by taking my .00000001 BTC out

                                                                                [–]NewChallengers_Redditor for 2 months. 1 point2 points  (1 child)

                                                                                Lol ".....and $1.6B deposited 😂" just another day

                                                                                [–]sublimeload420 1 point2 points  (1 child)

                                                                                Who cares. Where's my dip

                                                                                [–]takeyourmoneynowTin 2 points3 points  (0 children)

                                                                                We just want that and nothing else right now man, lol.

                                                                                [–]thehugejackedmanTin 1 point2 points  (1 child)

                                                                                Can we ban these ‘large exchange moves x’. It’s obnoxious and is just conspiracy bait

                                                                                [–]The-Francois8Silver|QC:CC928,BTC178,ETH39|CelsiusNet.50|ExchSubs42 1 point2 points  (1 child)

                                                                                This is better to hear than that amount in other direction.

                                                                                [–]sunway513Tin 1 point2 points  (0 children)

                                                                                Jesus FTX crash has made everybody chicken-hearted

                                                                                like bunch of 6 year old schoolgirls...what are u talking about if they had leverage on those assets they could not take them off could they?

                                                                                This is not bad,Coins of exhange to cold walled=bullish and good for crypto safty

                                                                                [–]hm478Tin | 5 months old 1 point2 points  (0 children)

                                                                                Everyone that I know who are new to crypto never would took Rhett crypto off exchange this week I had many calls and help them move there crypto to cold storage. It’s crazy. Trust is lost with cex

                                                                                [–]nicktweakTin 1 point2 points  (1 child)

                                                                                Can someone please explain if moving funds from their exchange to Coinbase wallet eliminates the third-party risk?

                                                                                Or staying in their ecosystem is still risky?

                                                                                [–]AhmadzaraTin 1 point2 points  (0 children)

                                                                                This is just the fucking level Coinbase wants to show right now man and they are being so good with showing that shit for real to most of the people right now.

                                                                                [–]thomaswilson12Tin | 5 months old 1 point2 points  (0 children)

                                                                                Wow does it have something to do with the year ending

                                                                                [–]depilousmahuangTin 1 point2 points  (0 children)

                                                                                Very good. Bitcoin should not be stored on exchanges!

                                                                                It will be expensive to get real Bitcoin if paper Bitcoin is not trusted any more.

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