With Bitcoin Under $80k, Two Whales Send BTC Worth $206M to Coinbase

Two bitcoin wallets that sat untouched since 2023 moved 2,571 BTC worth $206.5 million into Coinbase Prime on Monday, three minutes apart. The first wallet blinked yesterday and emptied 986.31 BTC into a single deposit address, while a second then followed up with a 1,584.98 BTC transfer, routed to the same destination. Onchain sleuths flagged the pair roughly 10 hours later and tagged the receiving address as Coinbase Prime, the exchange’s institutional desk. The near-identical timing and shared destination suggest one entity controls both, though that is an inference. The larger wallet received 1,584.89 BTC on Jan. 18, 2023, whereas the smaller one picked up 986.18 BTC on May 30, 2023. Apart from a handful of dust deposits, neither address moved a coin after that.

First reported by Bitcoin.com News. This page is a short excerpt; the full text is theirs.