Bitcoin rally is masking capital flight from crypto exchanges

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By Olga Kharif
Bloomberg News
Wednesday, May 15, 2019

Lost among the current bout of cryptocurrency euphoria is that capital outflows are exceeding inflows on some of the biggest digital-asset exchanges.

While that may sound counterintuitive to the basic laws of supply and demand with prices of Bitcoin and other tokens surging, it's not that rare an occurrence in a market that has been dogged by allegations of fraud and manipulation over its decade-long existence. TokenAnalyst, a London-based provider of blockchain data, estimates that withdrawals from trading platforms including Bitfinex, BitMEX, Binance, and Kraken have exceeded inflows by about $622 million over the past five days. ...

... For the remainder of the report:

https://www.bloomberg.com/news/articles/2019-05-15/bitcoin-rally-is-mask...



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