{"id":27110,"date":"2024-08-19T23:15:02","date_gmt":"2024-08-19T20:15:02","guid":{"rendered":"https:\/\/coinengineer.net\/blog\/?p=27110"},"modified":"2024-08-19T18:21:36","modified_gmt":"2024-08-19T15:21:36","slug":"mysterious-binance-linked-company-sells-200-million-worth-of-bitcoin","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/mysterious-binance-linked-company-sells-200-million-worth-of-bitcoin\/","title":{"rendered":"Mysterious Binance-Linked Company Sells $200 Million Worth of Bitcoin"},"content":{"rendered":"<p>Institutional investors have been selling substantial amounts of Bitcoin (BTC) since early August. Blockchain analytics platform Lookonchain reports that Ceffu has deposited a total of 3,568 Bitcoin, valued at $211.6 million, to Binance exchange since July 31.<\/p>\n<p>Ceffu, which began operations in 2021, provides custody and liquidity services for corporate entities. According to Ki Young Ju, CEO of blockchain firm <a href=\"https:\/\/coinengineer.net\/blog\/cryptoquant-ceo-whales-are-preparing-for-the-next-altcoin-rally\/\">CryptoQuant<\/a>, deposits of cryptocurrency to centralized exchanges often indicate selling intentions.<br \/>\nThe Lookonchain team suggests that Ceffu&#8217;s BTC transfers to Binance since the beginning of this month likely indicate institutional selling of Bitcoin.<\/p>\n<p>Arkham Intelligence records show that Ceffu&#8217;s most recent deposit to Binance was 121.1 Bitcoin, made today at around 09:45. The company&#8217;s wallet currently holds:<\/p>\n<p>Total crypto assets worth $2.52 billion<br \/>\n$1.02 billion in BTC<br \/>\n$480 million in Ethereum (ETH)<br \/>\nVarious other cryptocurrencies<\/p>\n<p><strong>The Binance Connection Mystery<\/strong><\/p>\n<p>Ceffu, established in December 2021, initially entered the market as Binance Custody. The U.S. Securities and Exchange Commission (SEC) has suggested that the connection between Binance.US and Ceffu may violate regulations.<\/p>\n<p>In February 2023, Binance Custody rebranded as Ceffu. Despite the company&#8217;s claims of no longer being associated with Binance, the relationship between Ceffu and Binance remains unclear.<\/p>\n<p><em>You can freely share your thoughts and comments about the topic in the comment section. Additionally, please follow us on our\u00a0<a href=\"https:\/\/t.me\/coinengineernews\" target=\"_blank\" rel=\"noreferrer noopener nofollow\"><strong>Telegram<\/strong>,\u00a0<\/a><a href=\"https:\/\/www.youtube.com\/@CoinEngineer\" target=\"_blank\" rel=\"noreferrer noopener nofollow\"><strong>YouTube<\/strong><\/a>\u00a0and\u00a0<a href=\"https:\/\/twitter.com\/coinengineers\" target=\"_blank\" rel=\"nofollow noopener\"><strong>Twitter<\/strong><\/a>\u00a0channels for the latest\u00a0<a title=\"News\" href=\"https:\/\/coinengineer.net\/blog\/news\/\" data-internallinksmanager029f6b8e52c=\"7\">news<\/a>\u00a0and updates.<\/em><\/p>\n<div class=\"kk-star-ratings kksr-auto kksr-align-center kksr-valign-bottom\" data-payload=\"{&quot;align&quot;:&quot;center&quot;,&quot;id&quot;:&quot;4973&quot;,&quot;slug&quot;:&quot;default&quot;,&quot;valign&quot;:&quot;bottom&quot;,&quot;ignore&quot;:&quot;&quot;,&quot;reference&quot;:&quot;auto&quot;,&quot;class&quot;:&quot;&quot;,&quot;count&quot;:&quot;0&quot;,&quot;legendonly&quot;:&quot;&quot;,&quot;readonly&quot;:&quot;&quot;,&quot;score&quot;:&quot;0&quot;,&quot;starsonly&quot;:&quot;&quot;,&quot;best&quot;:&quot;5&quot;,&quot;gap&quot;:&quot;5&quot;,&quot;greet&quot;:&quot;Rate this post&quot;,&quot;legend&quot;:&quot;0\\\/5 - (0 votes)&quot;,&quot;size&quot;:&quot;24&quot;,&quot;title&quot;:&quot;Will Bitcoin Spot ETF Be Approved? Cathie Wood Revealed!&quot;,&quot;width&quot;:&quot;0&quot;,&quot;_legend&quot;:&quot;{score}\\\/{best} - ({count} {votes})&quot;,&quot;font_factor&quot;:&quot;1.25&quot;}\">\n<div class=\"kksr-stars\">\n<div class=\"kksr-stars-inactive\">\n<div class=\"kksr-star\" data-star=\"1\"><\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Institutional investors have been selling substantial amounts of Bitcoin (BTC) since early August. Blockchain analytics platform Lookonchain reports that Ceffu has deposited a total of 3,568 Bitcoin, valued at $211.6 million, to Binance exchange since July 31. Ceffu, which began operations in 2021, provides custody and liquidity services for corporate entities. According to Ki Young<\/p>\n","protected":false},"author":1,"featured_media":27052,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[22,61,4028,39],"class_list":["post-27110","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-binance","tag-bitcoin","tag-ceffu","tag-sec"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Mysterious Binance-Linked Company Sells $200 Million Worth of Bitcoin - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/mysterious-binance-linked-company-sells-200-million-worth-of-bitcoin\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mysterious Binance-Linked Company Sells $200 Million Worth of Bitcoin - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"Institutional investors have been selling substantial amounts of Bitcoin (BTC) since early August. Blockchain analytics platform Lookonchain reports that Ceffu has deposited a total of 3,568 Bitcoin, valued at $211.6 million, to Binance exchange since July 31. Ceffu, which began operations in 2021, provides custody and liquidity services for corporate entities. 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