According to the Twitter account Lookonchain, a mysterious whale saved tens of millions of dollars in cryptocurrency after the infamous events in the crypto market in early November of last year.
Furthermore, this investor made a tidy return when USDC stablecoin was on the verge of de-pegging from USD. This whale was fortunate to withdraw 4 million USDC and 10,646 Ether (approximately $19 million) from the controversial cryptocurrency exchange FTX before withdrawals were suspended in early November 2022.
Addrsss: https://t.co/NFYoqfzA0U
— Lookonchain (@lookonchain) March 22, 2023
Back then, investors and creditors could not recover billions of dollars in cryptocurrency from FTX, which ultimately declared bankruptcy.
With the recent upheaval created by the closure of many big crypto-friendly institutions in the United States and the resulting blow to stablecoins, this whale made almost $200,000 in USDT. In contrast, the USDC stablecoin nearly lost its USD peg.
This SmartMoney wallet moved 7,868 ETH (about $14 million) to the Binance exchange. The @lookonchain Twitter account wonders who this whale is because the transactions detailed above may indicate that he had some insider information (at least about the upcoming crash of FTX). Still, there is no data to confirm that at the time.
Read more:
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- FTX Had A $6.8 Billion Shortfall In Its Balance Sheet When It Filed For Bankruptcy Last November