Ceffu Deposits $81.25 Million Worth of BTC to Binance
CryptoNewsTerminal Staff18 Sep, 2024
Ceffu Deposits $81.25 Million Worth of BTC to Binance
Ceffu, a suspected Binance-owned custodial platform, has recently deposited 1,347 BTC (approximately $81.25 million) to Binance. This transaction was reported by blockchain analytics firm Lookonchain via Twitter. In the past three months, the address linked to Ceffu has transferred a total of 16,123 BTC (approximately $952 million) to Binance. This substantial flow of funds between Ceffu and Binance suggests a close relationship between the two entities. The reasons behind these significant BTC transfers are yet to be disclosed, but they have sparked speculation within the cryptocurrency community. Some analysts suggest that Ceffu may be consolidating its BTC holdings on Binance for safekeeping or trading purposes. This news follows a recent trend of large BTC deposits to Binance. Last month, Bitcoin whales transferred over 100,000 BTC (worth approximately $6 billion) to Binance, indicating a growing preference for the platform among major crypto investors.
