, a mysterious fund has moved 322 million units of dollar-pegged stablecoin USDC to crypto exchanges in two portions.
The series of events that followed this has drawn the aforementioned tracker's attention as it involved the liquidation of over $240 million in crypto.Lookonchain reminded the community about yesterday's crash of crypto-friendly bank Silvergate's share price, and that it caused a plunge in the crypto market led by the two largest coins: Bitcoin and Ethereum .nosedived by 6%However, before ETH plummeted, its price saw a slight rise.
During the time in which Ethereum rose, a few things happened. First, Coinbase posted a tweet that it stopped accepting or initiating payments with the aforementioned Silvergate crypto-friendly bank. An hour later, the anonymous fund mentioned above began moving USDC from Circle and sending the crypto to digital exchanges.
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