Massive ETH Withdrawals Signal Shift Towards Self-Custody and Crypto Banking
There’s been a massive withdrawal of $290 million in ETH from FalconX recently, and it’s raising some eyebrows. This event appears to indicate that institutions are increasingly confident in self-custody. But what does this mean for the future of crypto banking? Let’s take a closer look.
What Happened?
Three previously inactive wallets recently withdrew a whopping 65,662 ETH from FalconX, which is a prime broker for trading, credit, and clearing of digital assets. This amount was highlighted by the on-chain analyst, OnchainLenz. These types of large withdrawals typically suggest that it’s a strategic move by a big entity, not just some random retail investors.
Self-Custody is Getting Real
This massive ETH withdrawal brings to light a…
