Ceffu Withdraws $191 Million in Crypto from Binance, Primarily in Stablecoins

IconCryptoNewsTerminal Staff13 Sep, 2024

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Ceffu Withdraws $191 Million in Crypto from Binance, Primarily in Stablecoins

Binance custody platform Ceffu reportedly transferred $191 million worth of crypto from Binance two hours ago, as reported by on-chain analyst The Data Nerd on Twitter. A substantial portion of the withdrawn funds consisted of stablecoins, primarily USDT. The reason behind this massive withdrawal remains unknown. Ceffu, a notable custodian within the crypto industry, has not yet commented or provided any official explanation. Market observers and industry experts will be keeping a close watch on further developments related to this withdrawal and its potential impact on the wider cryptocurrency market.