Bitstamp witness massive Bitcoin withdrawal totaling $600 million

Quick Take

Yesterday, Nov. 22, marked the second-largest Bitcoin outflow of the year from digital asset exchanges, just over $600 million.

As observed by CryptoSlate, these outflows predominantly originated from two major platforms – Binance and Bitstamp. Post the Department of Justice (DOJ) and Binance agreement, Binance saw an exodus of approximately 8,000 Bitcoin, equivalent to nearly $288 million reported on Nov. 21.

Another sharp decrease was spotted on Bitstamp, with a drain of about 16,500 Bitcoin. This outflow, valued roughly at $600 million, has also been confirmed via Arkham Intelligence Platform, evidencing the transaction in five increments of 3,300 Bitcoin each, 16 hours ago.

Consequently, Bitstamp’s Bitcoin reservoir stands depleted, now housing approximately 24,000 BTC.

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