Bhutan Transfers $28M in Bitcoin to Binance Amid Growing Crypto Involvement

A wallet linked to Bhutan has moved approximately 434.86 Bitcoin, valued at around $27.96 million, to Binance over a five-hour period.

This is the first activity from this address in over a month and marks a significant transfer of assets for the country.

The transactions were identified by blockchain analytics platform Arkham as likely owned by Bhutan's royal government.

Bhutan has been known to hold digital assets through its investment arm, Druk Holding and Investments.