Binance Institutional Partner Pulls $263M in BTC and ETH in Record 30 Minutes

Ceffu, Binance's institutional custody partner, has withdrawn $263 million in Bitcoin and Ethereum from the exchange in just 30 minutes.

The withdrawal consisted of 1,524 BTC (worth $117.89 million) and 59,484 ETH (approx. $145.92 million), which were moved out of Binance's exchange balance directly into a Ceffu custody address.

This is not the first time Ceffu has transferred large sums between the two platforms; in July, 3,000 BTC (worth roughly $192 million) was moved from Binance to a Ceffu address across 12 separate transfers over 30 days.

Ceffu's custody infrastructure utilizes multi-party computation technology paired with a customizable multi-approval scheme.