![Bitstamp asserts 1% outflow, denies Bitcoin withdrawals totaling $600 million](https://cryptoslate.com/wp-content/themes/cryptoslate-2020/imgresize/timthumb.php?src=https://cryptoslate.com/wp-content/uploads/2023/11/bs.png&w=70&h=37&q=75)
[Editor’s Note: Bitstamp has since stated that Glassnode and Arkham Intelligence data does not accurately reflect current Bitcoin outflows from its Exchange. In an X post, the exchange asserted that outflows were 1% of holdings as opposed to the “38%” depicted on Glassnode. Specifically,
“[Glassnode] is inaccurately reporting a drop in our BTC balance. The wallets they have reported on are only a selection of our wallets used for day-to-day operational transactions. In fact, our net outflow was 1%, rather than the highly inaccurate 38% mentioned. Additionally, we have no affiliation with HTX.”
The below insight is unchanged from our original reporting while we investigate this issue. The above clarification has been included for transparency.]
UPDATE 2: Glassnode has now added a disclaimer to the Bitstamp charts stating they it is “updating the labels for Bitstamp. The revised data will be available shortly.”
Quick Take
Yesterday, Nov. 22, marked the second-largest Bitcoin outflow of the year from digital asset exchanges, just over $600 million.
![Exchange Netflow: (Source: Glassnode)](https://cryptoslate.com/wp-content/uploads/2023/11/nf-1.png)
As observed by CryptoSlate, these outflows predominantly originated from two major platforms – Binance and Bitstamp. Post the Department of Justice (DOJ) and Binance agreement, Binance saw an exodus of approximately 8,000 Bitcoin, equivalent to nearly $288 million reported on Nov. 21.
Another sharp decrease was spotted on Bitstamp, with a drain of about 16,500 Bitcoin. This outflow, valued roughly at $600 million, has also been confirmed via Arkham Intelligence Platform, evidencing the transaction in five increments of 3,300 Bitcoin each, 16 hours ago.
![Bitstamp Withdrawals: (Source: Arkham Intelligence)](https://cryptoslate.com/wp-content/uploads/2023/11/ark.png)
Consequently, Bitstamp’s Bitcoin reservoir stands depleted, now housing approximately 24,000 BTC.
![Exchange Balance Bitstamp: (Source: Glassnode)](https://cryptoslate.com/wp-content/uploads/2023/11/bs.png)