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Ceffu withdraws $264M in Bitcoin and Ethereum from Binance in 30 minutes amid Bitcoin rally

Market News
24 Aug 2026
Bitcoin
View Source
Bullish
pluang ai news

Ceffu, Binance's institutional custody partner, moved $263.8 million worth of Bitcoin and Ethereum off Binance within 30 minutes on August 24, after depositing $136.54 million in USDC. This follows a similar large transfer in July, indicating ongoing custody activity rather than a bearish market signal. The timing coincides with Bitcoin's strongest weekly rally since March 2023, driven by U.S. Treasury bond buybacks and positive crypto industry developments. Such withdrawals typically reflect institutional settlement or rebalancing, not panic selling.

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