780 million USDC transferred from Binance to an unknown wallet

According to TechFlow, on October 30, Whale Alert monitoring showed that at 04:42 Beijing time, a total of 780,000,000 USDC were transferred from Binance to an unknown wallet, worth approximately $780 million based on the price at the time of transfer.

The receiving address currently has no public label, so the identity of the transferring party and the purpose of the funds cannot yet be confirmed. The outflow of large amounts of stablecoins from an exchange may be related to institutional withdrawals, OTC transactions, or internal wallet adjustments at the exchange; further on-chain tracking is still needed to determine the specific situation.

TechFlow previously reported that early today, Whale Alert monitoring also detected approximately 613 million USDT transferred from Binance to an unknown wallet.

Source: TechFlow