Ceffu Pulls $120M USDC From Ethena as Custody Concerns Take Center Stage
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4 Articles
Ceffu Pulls $120M USDC From Ethena as Custody Concerns Take Center Stage
TL;DR: Ceffu executed transfers totaling 120 million USDC from wallets linked to the Ethena protocol on Monday, August 24, 2026. The institutional custody platform manages Ethena’s Off-Exchange Settlement (OES) infrastructure via the MirrorX solution integrated with Binance. The Ethena protocol...
Key points of the news: Ceffu executed transfers totalling 120 million USDC from wallets linked to the Ethena protocol on Monday, August 24, 2026. The institutional custody platform manages the non-exchange settlement infrastructure (OES) of Ethena through the MirrorX solution integrated with Binance. The Ethena protocol supports the issuance of its synthetic dollar USDe, whose market capitalization exceeds 4 billion dollars in the derivatives m…
Ceffu Pulls $263 Million in Bitcoin and Ethereum off Binance in 30 Minutes
Ceffu, Binance’s institutional custody partner, deposited 136.54 million USDC onto Binance and then withdrew 1,524 BTC and 59,484 ETH worth a combined $263.8 million in a single 30-minute window on Aug. 24. A Familiar Custody Pattern Repeats Onchain sleuths reported that Ceffu deposited 136.54 million USDC into Binance before pulling 1,524 BTC (worth $117.89 million) […]
Ceffu’s $120M Ethena move raises fresh USDe questions
An on-chain transfer has become a hot topic in the crypto world this Monday, August 24. According to blockchain tracker Onchain Lens, institutional custodian Ceffu has pulled out 120 million USDC worth from wallets associated with Ethena, which is behind the protocol for USDe valued at $4 billion or more. In a market where institutions seem to prefer using third-party custodians to hold their collateral instead of keeping it on exchanges directl…
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