Unknown Wallet Transfers $414.7 Million in USDC to Binance

An unknown wallet sent 414,855,298 USD Coin (USDC), valued at $414.7 million, to Binance at 12:56 p.m. ET Tuesday, Nov. 3, making it the largest transfer in a three-hour tally of crypto movements.

The tally recorded 19 large transfers worth $3.06 billion through 1:01 p.m. ET. Transfers from unknown wallets into exchanges totaled $1.08 billion, while moves from exchanges to unknown wallets totaled $719.9 million.

Among other large transactions, 384,202,613 Tether (USDT), worth $384 million, moved from Bitfinex to Tether Treasury at 12:09 p.m. ET. At 11:54 a.m. ET, 170 million USDT moved from Bitfinex to Tether Treasury, and an equal amount moved back to Bitfinex.

Bitcoin (BTC) transfers included 3,857 BTC ($298.6 million) sent from Coinbase Institutional to a new unknown wallet at 10:52 a.m. ET. Two transfers from unknown wallets to Coinbase Institutional at 10:35 a.m. totaled 4,342 BTC, valued at $335.5 million.

A previous three-hour tally of large crypto transfers included a 700 BTC move to PayPal and a 702 BTC transfer from PayPal to Paxos. Transfer direction alone does not establish wallet holders’ intent.