1,049 BTC worth $81.5 million moves from Binance to Coinbase Institutional

Whale Alert reported that 1,049 BTC, worth roughly $81.5 million, moved from Binance to Coinbase Institutional. The transaction extends a six-week pattern of large Bitcoin transfers into Coinbase’s institutional custody and execution platform during July and August, including transfers of 1,137 BTC on July 7, 887 BTC on August 7 and 1,013 BTC on August 11. Together, the flows exceed 4,000 BTC and $275 million. Coinbase Institutional serves hedge funds, asset managers, family offices and spot Bitcoin ETF issuers, so the transfers may reflect systematic purchasing or custody activity, although the buyer’s identity and intentions remain unconfirmed. An earlier report described the latest transaction as 1,000 BTC valued at about ¥11.4 billion and recorded around 11 p.m. on the 20th; the newer Whale Alert account gives the amount as 1,049 BTC and identifies Binance as the source.

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