According to TechFlow, according to Lookonchain monitoring, since Jump Trading started selling $ETH on July 24, he withdrew 606 million $USDC from Binance and deposited 440 million $USDC into Coinbase. It is speculated that the $USDC deposited in Coinbase is likely to be converted into US dollars at a 1:1 ratio.
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Lookonchain: Jump Trading deposited 440 million USDC into Coinbase and may convert it into US dollars
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