Coinbase institutional wallet transfers out 1,301 BTC, worth approximately $100 million

on October 31, according to Whale Alert, 1,301 BTC were transferred from Coinbase Institutional to an unknown wallet at 02:31 Beijing Time, valued at approximately $100.22 million at the time of transfer.

The receiving address currently lacks a public label, making it impossible to confirm the recipient's identity and the purpose of the funds at this time. The large-scale withdrawal of BTC from the institutional exchange platform may be associated with arrangements such as institutional asset withdrawals for self-custody or OTC settlement, with specific circumstances awaiting further on-chain tracking.