Update on the Binance $1B situation:
It seems that the bUSD has moved from numerous wallets back to Binance 14 Hot Wallet.
Sequence of events:
$1B moved from Industry Recovery Fund to Blank Wallet
$1B moved from blank wallet to Binance Hot Wallet #14
The Problem:
- Not that transparent because it's hard to navigate and track what's going on. The hot wallet itself does tons of TX's nonstop (over 12M+). Why not just keep in blank wallet?
- Also in the past Mark Cuban has said "Next crypto implosion may be uncovering wash trading". A wash trade is when a trader buys and sells the same financial asset multiple times in order to generate fake volume.
- "Binance 24h volume is reported to be at $16,840,098,733.19T"
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