Crypto
Coinbase Unloads 1.16 Trillion Shiba Inu Tokens
Coinbase has made three large on-chain transfers of Shiba Inu (SHIB) tokens, totaling over 1.16 trillion units.
The transactions bypassed the spot market order book, suggesting that they were internal to Coinbase or part of an over-the-counter (OTC) deal rather than immediate market selling.
This move has raised questions about custody and liquidity for the SHIB token, as well as potential security concerns for exchanges handling such large volumes.