[News Brief] Apr 22, morning | Coinbase: Institutional Investors Buy Bitcoin on Every Dip

Coinbase: Institutional Investors Buy Bitcoin on Every Dip

Pete Rizzo said on X that Coinbase reported institutional investors are buying whenever Bitcoin declines in price.

He added that sovereign wealth funds and retail investors are also increasing their BTC purchases, explaining that buying demand continues not only near recent highs but also during price pullbacks.

This comment came as market attention remains focused on whether institutional demand will persist amid heightened Bitcoin volatility.

USDC Treasury Transfers 248 Million USDC to Coinbase Institutional

According to Whale Alert, 247,999,999 USDC was transferred from the USDC Treasury to Coinbase Institutional.

The transfer was worth approximately $247,972,347. Large stablecoin movements are drawing market attention in relation to changes in exchange liquidity.

Ethena Transfers 250 Million USDC to Unidentified Wallet

Whale Alert reported that 250 million USDC was transferred from Ethena to an unidentified wallet.

The transfer was worth about $249.94 million. Although it was a major on-chain movement, the purpose of the funds and the identity of the receiving wallet have not yet been confirmed.

U.S. Designates Alibaba, BYD, and Baidu as Companies Supporting the Chinese Military

Watcher.Guru reported that the United States has designated Alibaba, BYD, and Baidu as companies supporting the Chinese military.

The move comes amid ongoing U.S.-China technology and security tensions and could weigh on global equities and risk-asset sentiment.

Crypto Futures Liquidations Reach $603 Million in 24 Hours

Source: PANews. According to CoinGlass data, total crypto futures liquidations over the past 24 hours reached $603 million.

Of that total, long liquidations accounted for $143 million, while short liquidations reached $460 million. Bitcoin (BTC) liquidations totaled $279 million, and Ethereum (ETH) liquidations came to $168 million.

The sharp rise in short liquidations is interpreted as the result of a broad unwinding of positions betting on price declines during a short-term upward move.

Tether Treasury Transfers 130 Million USDT to Anonymous Wallet

According to Whale Alert, 130 million USDT, worth about $129,919,855, was moved from the Tether Treasury to an anonymous wallet.

The transfer occurred on the Tron network, and the use of the receiving wallet or any connection to exchanges has not yet been confirmed.

1,966 BTC Transferred Between Anonymous Wallets

According to Whale Alert, 1,966 BTC worth about $124.6 million was transferred from one anonymous wallet to another.

As no link to exchange wallets has been identified, the transaction may simply reflect a movement between custody wallets.

Coinbase Transfers 1,499 BTC to Unidentified Wallet

According to Whale Alert, 1,499 BTC was transferred from Coinbase to an unidentified wallet at around 3:54 on June 9.

The transfer was worth approximately $95.02 million. Large movements out of an exchange can be interpreted as custody activity or an over-the-counter transaction, though the specific entity and purpose have not been confirmed.

Aave Sees $8.45 Billion in Deposits Withdrawn in 48 Hours After KelpDAO Bridge Vulnerability Fallout

According to Odaily, after a $292 million exploit involving KelpDAO’s LayerZero bridge last April, Aave saw $8.45 billion in deposits leave the platform within 48 hours.

Aave founder Stani Kulechov said Aave V3 withstood the market shock and emphasized the network’s resilience. However, independent data analysis said Aave relied on about $300 million in emergency support, including a 25,000 ETH backstop from Aave DAO and an additional 5,000 ETH injected personally by Kulechov.

Kulechov said the vulnerability originated not in Aave’s core smart contracts but in third-party infrastructure. Still, analysts argued the incident exposed weaknesses in Aave’s risk management and insurance framework and resulted in roughly $123.7 million in bad debt tied to wETH.

To prevent future bridge failures from triggering system-wide deposit outflows, Aave plans to introduce a modular hub-and-spoke architecture in Aave V4, along with automated risk adjustment and collateral freeze functions.

793 BTC Flows Into Coinbase

793 BTC, worth about $50.44 million, was transferred from an anonymous wallet to Coinbase.

According to Whale Alert, the transaction represents a large inflow into Coinbase. Exchange deposits may be interpreted as possible preparation for selling, although no actual sale has been confirmed.