• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Secret $1 Billion Bitcoin Transfers Between Unknown Wallets

user avatar

by Giorgi Kostiuk

a year ago


  1. Unexplained Transfers
  2. Possible Fidelity Custody Involvement
  3. Impact on Bitcoin Market

  4. In recent days, unexplained large Bitcoin transfers from one unknown wallet to another have been observed. The latest episode involves the transfer of $1 billion in Bitcoin from several unknown addresses to new wallets in batches of exactly 2,000 BTC.

    Unexplained Transfers

    Over the past few days, there have been large Bitcoin transfers between unknown wallets. The latest transfer involves $1 billion in Bitcoin, moved in batches of 2,000 BTC each from several unknown addresses to new wallets. It is not known what this is related to or who is behind these addresses.

    Possible Fidelity Custody Involvement

    One clue that has surfaced is that, according to Arkham Intelligence, one of the sender addresses may belong to Fidelity Custody, a crypto custodian for one of the largest hedge funds in the world with approximately $5.4 trillion in assets under management. This year, Fidelity added its own spot Bitcoin ETF, FBTC, to its asset-heavy portfolio.

    2,001 BTC (128,899,588 USD) transferred from unknown wallet to unknown new walletWhale Alert

    Impact on Bitcoin Market

    The crypto hedge fund custodian, if the data is to be believed, now has 287,153 BTC worth $18.35 billion and 287,064 ETH worth $753.91 million. These funds include MicroStrategy, Fidelity FBTC ETF, and Fidelity FETH ETF, which are clients of this custodian. It is unclear if these transfers are part of an internal operation to reorganize wallets or if there's more behind it. It is worth noting that FBTC has seen more inflows than outflows in recent days. This could be a confirmation that a new period of positive flows into Bitcoin ETFs awaits us, potentially indicating increased demand for the cryptocurrency, which would be favorable for the BTC price.

    The question of the purpose and initiators of these unexplained Bitcoin transfers remains open. Perhaps further market movements will shed more light on this issue.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

The Financial Imperative for CRM Security

chest

CRM systems have evolved into critical repositories for sensitive financial data, making them prime targets for cyber threats.

user avatarTenzin Dorje

Quantified Financial Risk in the Financial Sector

chest

The financial sector faces significantly higher costs per data breach compared to the global average, necessitating robust security investments.

user avatarBayarjavkhlan Ganbaatar

Mandatory Security Measures for CRM Systems

chest

Financial organizations must adopt a comprehensive security approach to protect CRM systems and sensitive client information.

user avatarMohamed Farouk

Airwallex Faces Serious Allegations of Providing Backdoor to Chinese Authorities

chest

Airwallex is facing serious allegations of providing a backdoor to Chinese authorities, raising concerns about cybersecurity implications and potential impacts on investor confidence.

user avatarAisha Farooq

Yorkville Acquisition Corp Plans to Manage Cronos Token as Core Asset

chest

Yorkville Acquisition Corp, in collaboration with Trump Media and Cryptocom, plans to acquire and manage the Cronos token (CRO) as its core reserve asset.

user avatarDiego Alvarez

Yorkville Acquisition Corp Appoints New Executives for Planned Merger

chest

Yorkville Acquisition Corp has appointed two former executives from Gryphon Digital Mining, Steve Gutterman and Sim Salzman, to lead its planned merger with Trump Media and Cryptocom, aiming to create a publicly traded digital asset treasury focused on the Cronos ecosystem's native token, CRO.

user avatarElias Mukuru

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.