Major Crypto Firms Transfer $405M in Bitcoin to Anchorage Digital
Coinbase, Cumberland, Galaxy Digital, DRW and Wintermute moved 4,094 BTC worth approximately $405 million to institutional custodian Anchorage Digital within nine hours. The transfers occurred as Bitcoin traded below $100,000, with Galaxy Digital accounting for nearly 1,500 BTC of the total. The concentrated custody movements during price weakness suggest institutional accumulation at lower levels.