Reading this MSBT transfer as an institutional retreat is reading too much into it.
Two addresses associated with Morgan Stanley’s Bitcoin ETF transferred 713.458 BTC and 673.864 BTC, respectively, to Coinbase Prime deposit addresses—a total of about 1,387 BTC, worth around $106 million. After the transfers, the Morgan Stanley addresses identified by Arkham still held about 9,463 BTC, worth around $728 million. Both amounts moved out, but they went to the custody-account side—more like moving cash from a drawer into a bank safe-deposit box.
The addresses are moving; the position is still there.
#BinanceRevealsUpdateOnHackIncident80PercentOf$6.3BInLossesRecovered
Two addresses associated with Morgan Stanley’s Bitcoin ETF transferred 713.458 BTC and 673.864 BTC, respectively, to Coinbase Prime deposit addresses—a total of about 1,387 BTC, worth around $106 million. After the transfers, the Morgan Stanley addresses identified by Arkham still held about 9,463 BTC, worth around $728 million. Both amounts moved out, but they went to the custody-account side—more like moving cash from a drawer into a bank safe-deposit box.
The addresses are moving; the position is still there.
#BinanceRevealsUpdateOnHackIncident80PercentOf$6.3BInLossesRecovered
