In half an hour, 136.54 million USDC was moved from Ceffu to Binance. The withdrawals were 1,524 BTC and 59,484 ETH.
This is what Lookonchain caught.
Ceffu provides institutional custody: it stores stablecoins first, then withdraws major assets. It looks exactly like an asset swap done on behalf of the client. The exchange manages liquidity, while the custodian handles settlement and storage—so the client doesn’t have to keep moving wallets back and forth.
Here, the stablecoin is just a transition. Institutions won’t let it sit there for long.
This is what Lookonchain caught.
Ceffu provides institutional custody: it stores stablecoins first, then withdraws major assets. It looks exactly like an asset swap done on behalf of the client. The exchange manages liquidity, while the custodian handles settlement and storage—so the client doesn’t have to keep moving wallets back and forth.
Here, the stablecoin is just a transition. Institutions won’t let it sit there for long.