In a flurry of high-value transactions, blockchain analytics firm Whale Alert has reported a series of substantial Bitcoin transfers totaling over $200 million from two major cryptocurrency exchanges—Binance and Kraken. These movements come amid broader activity in the crypto space involving Tether, the world’s largest stablecoin issuer, and a new Bitcoin-focused investment initiative.
$203 Million in Bitcoin Withdrawn from Binance and Kraken
According to data published by Whale Alert, three large Bitcoin transfers were executed over the past five hours. Two originated from Kraken, while one was traced back to Binance, the world’s largest cryptocurrency trading platform. The transactions involved 896 BTC, 530 BTC, and 504 BTC respectively, collectively valued at approximately $203.3 million at the time of transfer. All three transactions were directed to unidentified wallets, indicating that the receiving addresses are not linked to known centralized platforms.
The timing of these withdrawals closely followed a wave of enormous Bitcoin transactions initiated by Tether through the Bitfinex exchange.
Tether CEO Confirms Multi-Billion Dollar Bitcoin Transfers
Tether CEO Paolo Ardoino addressed the recent on-chain activity, confirming that a staggering 10,500 BTC—worth more than $1 billion—was moved from Bitfinex to an anonymous wallet. This transaction came just hours after a similar withdrawal of 14,000 BTC, valued at over $1.46 billion. In total, Tether has transferred approximately 37,229 BTC within a 24-hour window, representing nearly $4 billion in value.
Ardoino clarified that these transfers are part of a prefunding arrangement for SoftBank’s entry into Twenty One Capital (XXI), a newly established Bitcoin investment fund launched in April. The fund is structured not for trading or speculation, but to hold Bitcoin as a long-term asset—mirroring the strategy employed by Michael Saylor’s firm, Strategy.
Strategy Holdings Exceed $61 Billion
Meanwhile, Strategy continues to solidify its position as a dominant corporate holder of Bitcoin. The firm recently acquired an additional 705 BTC, pushing its total holdings to 580,955 BTC. The aggregate value of its Bitcoin reserves now exceeds $61.18 billion, reinforcing its commitment to a Bitcoin-centric treasury strategy.
With the combined involvement of Tether, SoftBank, and Bitfinex, the launch of Twenty One Capital marks a significant development in institutional Bitcoin investment—signaling confidence in the asset’s long-term potential even amid market volatility.
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