Binance Overtakes Coinbase In Bitcoin Balances; Investors Withdraw BTC From Coinbase Amidst Liquidity Fears

What Happened: Data analytics platform Glassnode shows Coinbase Global Inc’s (NASDAQ: COIN) bitcoin balance has decreased from over 1 million bitcoin in 2020 to less than 600,000 bitcoin today. After Coinbase sent an email out to marketers notifying them that its affiliate program will be halted, rumors circulated the internet that Coinbase may face insolvency, following the insolvencies of Voyager, Celsius, and a number of other cryptocurrency exchanges.