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Yi He says most large transfers moved from Binance cold wallets to new hot wallet

NewsFeeds update

Binance co-founder Yi He said most large transfers went from Binance cold wallets to the exchange's new hot wallet, replying to an X user who asked which whales were behind transfers worth hundreds of millions of dollars.

BitcoinChainCatcherAINeutral

Read the original on ChainCatcher

The story so far: Large BTC transfers from Binance

Whale Alert reported large BTC transfers from Binance to unknown wallets, including 5,000 BTC worth about $399m and 3,000 BTC worth about $234m. He Yi said a 2,000 BTC receiving address is a new Binance wallet, and Yi He said most large transfers moved from cold wallets to the exchange's new hot wallet. Yi He said…

  1. Whale Alert says 5,000 BTC moved from Binance to an unknown wallet

    Whale Alert reported that 5,000 BTC, worth about $399m, was transferred from Binance to an unknown wallet.

    BitcoinCoinNessAINeutral

  2. He Yi says address that received 2,000 BTC is a new Binance wallet

    Binance co-founder He Yi said the receiving address in a 2,000 BTC transfer flagged by Whale Alert is a new Binance wallet, and the new withdrawal address is included in proof of reserves. Whale Alert had reported the roughly $156m transfer from Binance to an unknown wallet.

    BitcoinChainCatcherAINeutral

  3. Whale Alert says 3,000 BTC moved from Binance to unknown wallet

    Whale Alert reported that 3,000 BTC, worth about $234m, was transferred from Binance to an unknown wallet.

    BitcoinCoinNessAINeutral

  4. Yi He says most large transfers moved from Binance cold wallets to new hot wallet

    Binance co-founder Yi He said most large transfers went from Binance cold wallets to the exchange's new hot wallet, replying to an X user who asked which whales were behind transfers worth hundreds of millions of dollars.

    BitcoinChainCatcherAINeutral

  5. Yi He says new Binance hot wallet addresses may be counted as outflows

    Binance co-founder Yi He said a Grok Bot estimate that Binance net outflows were within about $2bn appeared to count some of the exchange's new hot wallet addresses as outflows, and suggested cross-checking with multiple tools.

    BitcoinChainCatcherAINeutral

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Every Bitcoin update on NewsFeeds

Every update is a short rewrite, by AI in our own words, of a flash from the outlet named on it, credited and linked. Updates are joined into one story by AI; our editors can change a story’s name or take an update out. Not investment advice.