Crypto
Community banks see net deposit outflows to Coinbase, down $78.3 million in 13 months
Community banks are experiencing fund outflows to Coinbase, Cointelegraph reported on Feb. 19. Bank data analytics firm KlariVis reviewed 92 community banks and found net deposits of $78.3 million moved to Coinbase over 13 months. An analysis of data from 53 banks showed $122.4 million flowed out and $44.2 million flowed in. Most outflows came from money market accounts, where 96.3 percent of related transactions went from banks to the exchange.
