Arca Sends 1.49M ARB to Binance, Losing $465K

• Lookonchain revealed in an X post today that Arca sent 1.49 million ARB to Binance a few hours ago.
• According to the post, Arca selling its ARB holdings would result in a $465K loss for the investment firm.
• This is not the first bad investment by Arca, as its positions in GMX, DYDX, DPX, and SYN all ended in losses.

Lookonchain, the on-chain tracking platform, revealed in an X (formerly Twitter) post earlier today that the investment firm Arca sent a substantial amount of Arbitrum (ARB) to Binance a few hours ago. According to the post, Arca sent 1.49 million ARB tokens, valued at $1.21 million, to the leading cryptocurrency exchange platform.

Notably, Arca selling its ARB tokens resulted in them losing $465,000, according to Lookonchain. This was not the first investment this year that has not gone in favor of Arca,…

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