Matrixport Moves 4,000 Bitcoin from Binance in Major Shift

Major cryptocurrency firm Matrixport has executed a significant transfer of 4,000 bitcoins (BTC) worth around $454 million from Binance, the world’s largest crypto exchange by trading volume. The move has seen Binance’s BTC reserves decrease by 12,000 BTC this week, sparking discussions about potential institutional accumulation. Matrixport, founded by Jihan Wu, co-founder of Bitmain, is a major player in the cryptocurrency financial services sector and manages over $10 billion in assets. The transfer was confirmed by Lookonchain and Matrixport-related wallet activity, highlighting its substantial size and impact on the market.