Kraken, one of the world's largest crypto exchanges, saw investors convert over $1 billion in Bitcoin to cash before a recent SEC Ruling on Bitcoin ETFs.
Crypto investors withdrew over $1 billion worth of Bitcoin and converted it to cash on the Kraken exchange shortly before the Securities and Exchange Commission's (SEC) recent ruling allowing spot Bitcoin exchange-traded funds (ETFs).
The withdrawals/conversions were conducted throughout more than three dozen transactions between Jan. 7 and Jan. 9. The moves were first reported on the blockchain monitor Whale Alert. The transaction amounts were between 400 and 1,000 Bitcoins.
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