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Bitcoin rally is masking capital flight from crypto exchanges
By Olga Kharif
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. ...
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