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Large Bitcoin transfers move 2,756 BTC from Binance and Coinbase Institutional

Large Bitcoin transfers move 2,756 BTC from Binance and Coinbase Institutional

Onchain alerts flagged 492 BTC leaving Binance and 2,264 BTC leaving Coinbase Institutional for newly created or unknown wallets, transactions traders monitor for possible custody shifts, OTC settlement, or large-holder repositioning.

BTC

Fact Check
All components of the claim are corroborated by primary on-chain monitoring sources. Onchain Lens (via its X post and the odaily newsflash) confirms 492 BTC withdrawn from Binance to a newly created wallet. The Whale Alert transaction page and Whale Alert X post confirm 2,264 BTC from Coinbase Institutional to an unknown wallet. The sum 492 + 2,264 = 2,756 BTC matches the claim's headline, and the destinations match the 'newly created or unknown wallets' description.
Summary

Blockchain monitoring alerts identified two sizable Bitcoin transfers from exchange-linked addresses to new or unknown wallets: 492 BTC worth about $31.06 million from Binance and 2,264 BTC worth $143.14 million from Coinbase Institutional. Such outflows are closely watched by market participants because they can reflect moves into private custody, custody reorganization, over-the-counter settlement, or repositioning by large holders, although the transactions alone do not reveal the owners’ identities or intent.

Terms & Concepts
  • Onchain Lens: A blockchain monitoring service that tracks wallet activity.
  • Coinbase Institutional: Coinbase service for institutional clients.
  • wallet: A tool for storing crypto keys.