According to @lookonchain, whale wallet 0xdc17 deposited 52.5M BANK valued at approximately $3.36M to Bitget about an hour before the post, marking an exchange inflow into Bitget for BANK (source: @lookonchain). The wallet address and transaction trail are visible on Arkham Intelligence’s explorer for 0xdc17F614E84C6CE8a5f92DE8f982379EfEb45c7a (source: Arkham Intelligence).

According to Nic Carter, when a bank seeks to open an account for a cryptocurrency exchange, the FDIC requires detailed information. These requirements are aimed at ensuring compliance with regulatory standards and safeguarding financial stability. This process underscores the importance of due diligence and the stringent oversight applied to financial institutions interacting with crypto entities.