Russians unloading billions of bitcoin in the UAE? It's happening, says Reuters. Fake news, say crypto vets like adam3us, Melt_Dem, and WhalePanda. camomileshumba reports.
Cryptocurrency firms based in the United Arab Emirates have been hit with a flood of requests by Russian clients to liquidate billions of dollars worth of digital assets,One crypto executive claims to have received a number of requests from Swiss brokers over the past few days to liquidate billions in bitcoin , with not one of those requests being for less than $2 billion.
“We have one guy – I don't know who he is, but he came through a broker – and they're like, 'we want to sell 125,000 bitcoin.' And I'm like, 'what? That's $6 billion guys.' And they're like, 'yeah, we're going to send it to a company in Australia.'" Other Russians are looking to use their crypto to invest in property in the UAE, the report continued. Dubai, of course, has for years been a popular destination for Russians, and they've been among the top visitors and buyers of real estate there long before the Ukraine invasion began.
Many Bitcoin veterans - having seen these sorts of reports more than once - are taking the Reuters story with a big grain of salt. “Calling a hard fake news on this one,”
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