TechFlow reports, according to on-chain analyst Lookonchain's data monitoring, after news broke that the U.S. Securities and Exchange Commission (SEC) filed a lawsuit against Binance, Cumberland, a digital asset liquidity provider, withdrew 67.9 million USDC from Circle and deposited 67.1 million USDC into Coinbase. Meanwhile, digital asset platform FalconX received 37 million USDC from Circle and deposited 29.5 million USDC into Binance. In total, these two institutions deposited 96.6 million USDC into exchanges.
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