Whether cryptocurrency enthusiasts believe the stablecoin controversy is worrisome or mere FUD, the news surrounding the $850 million of Bitfinex funds locked up has shaken the markets. Now, digital asset traders are closely monitoring the large premium on Bitfinex, where the price of BTC is trading for $300 more than on most spot markets. The publicly known Bitfinex cold storage wallet is also being monitored as large sums of BTC have left the address since the announcement last week.
Also read: Researchers Find Hundreds of Ethereum Wallets at Risk Due to Weak Key Pairs
Bitfinex Cold Storage Drops Below 90K BTC Following Controversial News
On April 25, the New York Attorney General’s (NYAG) office issued a press release concerning court documents that accuse the cryptocurrency exchange Bitfinex of losing $850 million and using the stablecoin operation Tether to cover it up. Bitfinex claims the NYAG court filings are “riddled with false assertions” and the chief financial officer, Giancarlo Devasini,…