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Regulatory Crackdown Forces $32M Crypto Outflow

Published 02/21/2023, 10:10 AM
Updated 02/21/2023, 12:30 PM
Regulatory Crackdown Forces $32M Crypto Outflow
BTC/USD
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  • Over the last week, crypto outflows hit $32 million for the first time since December 2022.
  • The outflow, caused by the crackdown on crypto companies in the United States, saw Bitcoin bear the burnt, with outflows of almost $25 million.
  • Despite the outflows of crypto products, the prices of digital assets have been on the rise, with Bitcoin gaining 10% in the same week.
Last week, the United States regulators' crackdown on the crypto industry resulted in digital asset investment products recording net outflows totaling $32 million as institutional investors exercised caution.

Fleeting Negative Sentiments?

Crypto products recorded $32 million in net flows last week, snapping a six-week run of inflow. The outflows also mark the largest withdrawal from crypto funds since late December 2022.

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